JK Tyre Aiming For Annual 15-20% Overseas Growth

Speaking to India’s Business Standard newspaper, JK Tyre & Industries vice-chairman and managing director Raghupati Singhania has shared that the tyre maker is looking at expanding its international presence by 15 to 20 per cent every year. Currently JK Tyre sells Rs 8 billion (£108.5 million) worth of goods outside of India, some 44 per cent of which is produced at international sites. These overseas facilities include the Tornel plant in Mexico, which the Indian manufacturer acquired in 2008, and partner factories in China, Vietnam and Sri Lanka.
According to Singhania, expansion at the Tornel plant is under consideration, although details of the investment required are still being calculated. He told the Indian business daily that JK Tyre is also “looking at acquisitions in low-cost countries, particularly in Southeast Asia.”
(Tyrepress.com, May 10, 2011)