INDIA-BASED Apollo Tyres is studying setting up its first tyre manufacturing operation in Indonesia, Vietnam or Thailand that will be large enough to support not only the automobile market in the region but also beyond.
"Our tyre plant in Asean will have big capacity and big economies of scale," president Satish Sharma said last week.
Apollo Tyres achieved US$2.08 billion (Bt74.6 billion) in sales for the fiscal year ended in March.
Sharma - who guides strategy and oversees the implementation of key functions like manufacturing, sales and marketing, customer relations and profitability for Asia-Pacific, the Middle East and Africa - said the company's vision is to be a significant player in the global tyre industry by establishing its own footprint or taking the mergers and acquisitions route.