According to the "Indian Business Wire," India's Apollo Tire recently announced that it will sell Cooper tires in India's domestic replacement tire market. The company has recently decided to invest US$2.5 billion to acquire Cooper Tire.
Neeraj Nanwar, Vice Chairman and General Manager of Apollo Tire, said: “Globally, Cooper Tires are a strong player in the replacement of the tire market. We will certainly use their product portfolio to provide our customers with a variety of brands. A full set of products." However, Apollo tires will focus primarily on the North American OEM market to promote the growth of Cooper tires.
At present, Apollo tires have occupied a dominant position in the Indian replacement tire market. The company recently announced that it will introduce the latter's products into the Indian market after the acquisition of Cooper tires. The tires used in SUV models will be the first to be introduced. product. Gasgoo.com
“But this will not be limited to the Indian market,†Neeraj Nanwar said. “We will use the same business model in other parts of the world. For example, Apollo Tire can use its existing distribution network to install its own brand of trucks. Tyres are being introduced into the Chinese and North American markets, and we currently have relatively weak business in these markets."
Cooper Tire's sales reached US$4.2 billion last year, and 70% of the company’s operating revenue was generated in North America; Apollo Tire’s two-thirds of its operating revenue comes from the Indian domestic market. The combined annual revenue of the two companies will be Reached 6 billion U.S. dollars, becoming the world's seventh largest tire manufacturer.
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