JK Tyre
JK Tyres to set up a new unit at Chennai
While there has been immense pressure on the margins of the tyre majors in the country with the rubber prices touching new skies but it doesn't stop JK Tyre & Industries to get more aggressive on its plans in the Indian market.
In fact, according to the recent news reports, the company has already earmarked a whopping Rs 930 crore to set up a new radial tyre manufacturing facility near Chennai that will have the total production capacity of close to 29 lakh unit on an annual basis.
JK Tyre intends to invest Rs 1,200 crore
JK Tyre & Industries has made announcement that the company has decided to make an investment of Rs 1,200 crore over the upcoming 3-4 years with the aim to spread out its capacity, including building a greenfield car radial facility in South India.
At present, the company creates 158 lakh units of tyres internationally of its three brands -- JK Tyre, Vikrant and Tornel.
Company’s four Indian facilities contribute 92 lakh units, while the rest comes from the three Mexican plants.
JK Tyre slashes tyre prices
Country's leading tyre maker, JK Tyre and Industries Limited has decided to pass on the entire benefit of tax reduction announced in the Budget to the consumers by reducing tyre prices.
In an official release, the company has announced a reduction in prices after the reduction in Cenvat duty from 16% to 14% in Budget 2008 yesterday.
