Apollo closes deal with Sumitomo

摘要

Apollo Tyres has announced the closure of the transaction with Sumitomo Rubber Industries (SRI). As per the deal, SRI takes over Apollo Tyres South Africa (ATSA) including the Ladysmith passenger car tyre plant, and the Dunlop brand rights that Apollo had in 32 countries of Africa, for $ 60 million. Apollo retains the Durban plant which manufactures Truck & Bus radial (TBR) tyres and Off-Highway tyres (OHT) used in the mining and construction industries.