RIDING HIGH ON DEFAULT
Article Abstract:
The tyre industry grew by 4.35 percent in 1997-98 (7 percent in 1996-97). Tyre companies like MRF and Apollo Tyres performed well. Dunlop Tyres fared poorly. MRF recorded a growth of 9 percent in its sales and 128 percent in its net profit to Rs52 crore in the second half of 1997-98. Apollo Tyres made a net profit of Rs40 crore in 1997-98. The prices of rubber and carbon black declined, boosting the bottomline of the tyre producers. International price of rubber declined to $700 a tonne in 1997-98 from $1,000 a tonne in 1996-97. (rk)
Comment:
India: Local tire industry grows by 4.35% percent in 1997-98, against 7% growth in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TCI REVIVAL PLAN MAY BE DELAYED
Article Abstract:
The Industrial Development Bank of India (IDBI) has requested the Board for Industrial and Financial Reconstruction (BIFR) to grant it 3 months for finalising the plan for the revival of the Tyre Corporation of India (TCI), a sick company, at Kankinara. IDBI is the operating agency for TCI. It has hired Polymer Consultancy of Madras to develop the plan on its behalf. Polymer Consultancy has sought 10 weeks for completing the exercise. (ag)
Comment:
IDBI asks Board for Industrial & Financial Reconstruction to grant it 3 months for finalising plan for revival of co
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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APOLLO TYRES SLAMS BRAKES ON NEW UNIT
Article Abstract:
Apollo Tyres has postponed its plans to set up a greenfield facility to manufacture commercial vehicle tyres. The plant was supposed to have been set up either in Punjab or Andhra Pradesh with an investment of Rs125 crore. The company says that existing market conditions is not conducive to creating new capacities. It currently has three plants with a total capacity of 1.25 lakh truck and bus tyres per month. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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