Apollo launches in Sri Lanka

ERJ staff report (DS)

Colombo, Sri Lanka -- Apollo Tyres Ltd entered the Sri Lanka market today through a tie-up with Ideal Motors, the automobile distribution and marketing arm of the Ideal Group of Companies. Ideal has formed a new company, Ideal Wheels & Tyres, for the distribution and retailing of Apollo tyres.

Initially Apollo Tyres will focus on passenger vehicle and cross-ply truck and light truck tyres. This will be gradually expanded over time to include Apollo's entire range currently sold in India, including truck bus radial, agriculture and off-highway tyres, if and when needed.

Commenting on Apollo's entry into Sri Lanka, Satish Sharma, Chief, India Operations, Apollo Tyres Ltd, said “the accelerated development projects are critical for the post-conflict Sri Lankan economy. We have the Indian experience on the kind of tyres, services and training required to allow vehicle owners to maximise on performance. Sri Lanka is currently primarily a cross ply market in the commercial segment. We will work with our partners as they gradually make the shift to radial tyres. Ideal Motors, with its proven experience in the automobile and automotive parts business, would be the perfect partner for us to do this together.”

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Press release from Apollo Tyres