JK Tyre goes ahead with expansion plans in South-East Asia
In a bid to grow globally and extend operations overseas, Delhi based J K Tyres is eyeing South East Asia where expansion is concerned. It is in this region that the Indian based tyre company hopes to receive fast track expansion. Still in initial stages and no concrete plans in place, J K Tyres has put out strong expansion plans in diverse regions.
Parallel to expansion in South East Asia, domestic expansion is also on the cards with an INR 1,000 crore investment to augment its truck and bus radial and passenger car radial production at their Chennai plant. Speaking to ET, Dr Raghupati Singhania, CMD, JK Tyres, said, “Even as there is vast potential in the domestic tyre market with India being the world’s manufacturing hub for compact cars, we have turned our eyes towards South-East Asia for some fast-track expansion. We have encountered some interesting propositions for possible opportunities of acquisition to catapult into a global entity, after the successful integration of our Mexican subsidiary Tornel into the group.”