Indian tyre majors to buy rubber plantations

摘要

Two major Indian tyre makers, Apollo Tyres and JK Tyre & Industries, are planning to purchase rubber plantations to protect themselves against rising rubber prices. In an interview to a business daily, Apollo's Vice-Chairman and Managing Director Neeraj Kanwar said as far as buying rubber plantations or any kind of backward integration is concerned, Apollo is always open to possibilities depending upon the need of the hour. Arjun K Bajoria, President and Director, JK Tyre, said the company may acquire existing rubber planations in India or abroad.