Warburg Pincus is now a shareholder in Apollo Tyres Ltd. During a meeting yesterday, the tyre maker’s Committee of Directors – Private Placement allocated Emerald Sage Investment Ltd., an affiliate of the private equity firm, 54,000,000 compulsorily convertible preference shares. Emerald Sage paid a total of Rs s. 5,400,000,000 (£57.56 million) for the shares in this first tranche transaction, or Rs 100 each.
Aimed at giving drivers options for whatever weather they face, Vredestein launched its first UHP all-season tire built for the North American market: the Vredestein Hypertrac.
The tire, available to order in 38 sizes, kicks off Vredestein’s portfolio growth in the North American market for 2020, as the tiremaker promises to release a new product every three months. Abhishek Bisht, global head of new markets and channels for Apollo Tyres Ltd., Vredestein’s parent company, said the company set out to create a tire with superior wet performance capabilities in line with market trends and preferences of today’s consumers.
ATLANTA — Apollo Tyres Ltd. is dealers in the U.S. and Canada the opportunity to make margins of up to 50% on its Vredestein winter tire lineup through a special program that’s open until April 30.
To build a more sustainable business, Apollo Vredestein has plans to limit production at its plant in Enschede, the Netherlands, to focus on high-performance tires only. Within the current operating environment certain tire sizes can no longer continue being manufactured in Enschede at a profitable and competitive level. The aim is to specialize the factory in production of agricultural tires and high-value products with a short production run.
ATLANTA—Apollo Tyres is launching a streamlined marketing campaign in North America for its Vredestein brand, with the goal of emphasizing the quality of its product lines as well as boosting dealer profitability.
Vredestein will introduce a new tractor tire, the Vredestein Traxion 65, at this year’s Agritechnica (Nov. 10-16).
As the successor to the Traxion+, the Traxion 65 incorporates new technologies derived from the development of the flagship VF tire, the Traxion Optimall. The foundation for the development of the tread design is the Traxion concept with its curved lug shape, the company says.
Apollo Tyres has introduced its new all-terrain SUV tire, Apollo Apterra AT2, for the off-road enthusiasts.
The company says this all-terrain tire complements Apollo’s existing Apterra range including specialized highway luxury (HL), highway terrain (HT), high performance (HP) and the all-terrain (AT) tires for the SUVs.
SOUTH BEND, Ind. — Apollo Tyres Ltd.’s Vredestein Quatrac Pro was ranked as the top grand touring all-season tire in a test conducted recently by Tire Rack Inc.
SONGKHLA, Thailand — Apollo Tyres Ltd. has enhanced its commercial truck tire business, inaugurating its first Apollo Truck Tyre Zone (ATTZ) in Thailand with retreader Ten Ten Auto Tyres.
Apollo Vredestein has launched a consumer-focused campaign in the UK to promote the use of all-season tyres: Until 30 September 2019, all purchases of four Vredestein Quatrac all-season tyres at participating dealers qualify for a free Google Home Mini or Amazon Echo Dot.