Metro Tyres to invest Rs.100 crore to expand productionJuly 5th, 2012 - 5:44 am ICT by IANS
New Delhi, July 4 (IANS) In line with the robust two-wheeler sales in the country, Metro Tyres will expand its production capacity, investing Rs.100 crore in the next five years.
“We will expand our two-wheeler and bicycle production. But major expansion trust area will be towards two-wheeler tyres,” Rummy Chhabra, managing director, Metro Tyres, told IANS Wednesday.
The tyre maker currently has only three percent share in the two-wheeler market and 24 percent in the bicycle segment. The company manufactures close to 30 million tyres and 30 million tubes annually in its seven plants based in north India.
The company is also focusing on replacement tyre market with 80 percent and rest 20 percent will be sold to original equipment manufacturers (OEMs).
The company also expects to achieve a turnover of around Rs.1,000 crore with in the next two-three years from its current turnover of Rs.600 crore.
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Tags: 30 million, bicycle, crore, july 4, managing director, metro, New Delhi, next five years, north india, original equipment manufacturers, plants, rs 1, rummy, segment, tubes, turnover, two wheeler, tyre