Balkrishna Industries Limited
(BKT), one of the leading off-highway tyre manufacturers headquartered in
India, has announced a USD 100 million construction project for a new
production site to serve the entire American region. This new production site
will be the multinational group’s first manufacturing site outside of India.
The project is at its initial stage
and the company is looking for an appropriate terrain, which will be defined by
the end of this year. Land acquisition will take place by the end of the first
quarter 2019 while the project completion is expected by March 31, 2021. The
project has been approved by the Board of Directors and was for the first time
announced on the occasion of the TIA Hall of Fame Award Ceremony in Las Vegas
on October 29, 2018. While the prestigious award was received by Rajiv Poddar,
Joint Managing Director of BKT, on behalf of his father, Arvind Poddar, Chairman
and Managing Director of BKT, the latter disclosed the company project in a
It is commonly known that
Europe is BKT’s largest sales market accounting for more than half of the
company’s overall turnover. Yet, the Americas are becoming an increasingly
interesting and expanding market. The more than positive outlook led to the
decision of establishing a new wholly-owned subsidiary company in the USA to
set up a greenfield project for the construction of a new tyre manufacturing
plant in the USA designed for a yearly production capacity of about 20,000 MT
in the entire off-highway tyre segment. Target markets are both the replacement
market and OEMs in the USA. The remaining tyre demand will still be catered for
directly from India.
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