NEW DELHI: Tire giant Bridgestone India today announced an investment of Rs. 3,043 crore (approximately Rs. 19.4 billion) over the next five years in the expansion of its two manufacturing plants in Maharashtra and Madhya Pradesh. The company, which is part of Japan’s Bridgestone Corporation, plans to expand its Pune infrastructure (Bridgestone India said in a statement that the investment will be made in phases over the next five years, starting this year). Kazutoshii Oyama, Managing Director, Bridgestone India “This investment confirms our commitment to expand Bridgestone’s business in India, one of the fastest growing markets in the world.” He added that this investment will provide Bridgestone India with advanced manufacturing capabilities, technology and techniques and better products for its customers. The plant expansion will enable Bridgestone to meet the growing demand for tires in India due to the increase in the number of vehicles and production. The...

KOCHI: Apollo Tyres is considering investing 5 investing more than 40 billion euros I rupees) to set up factories in Eastern Europe to enhance its global presence. The company is yet to confirm the exact location, “We are still in discussions with the countries in the region”, Nerajj Kanwar, Vice Chairman and Managing Director The plant is expected to be operational within three years. The Gurgaon-based company, which failed in its attempt to buy the US-based Cooper Tire & Rubber Company for $100 million last year in a 25-cent emergence, is expanding organically and is not considering any acquisitions at the moment. While the Eastern European plant is the first outside India, the company is expanding its production capacity in Chennai and investing in off-road tire (OTR) wait products, which are growing in demand in the global market. The proposed European plant has the capacity to produce 550 home million passenger car radials and 675, 0000 large commercial radials an...