|13th November 2018, 17:52||#1|
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Balkrishna Tyres to set up production facility in the US
Balkrishna Industries Limited - manufacturers of off-highway tyres, is setting up a production facility in the US at a cost of US$ 100 million. The new plant will have a yearly production capacity of about 20,000 MT. The company is targeting the replacement market as well as Original Equipment Manufacturers (OEMs) in the US.
The project is currently in its initial stages and the company is looking for suitable land. Land acquisition is said to take place by the end of Q1 2019 and construction of the facility is expected to be completed by March 31, 2021.
Balkrishna Industries already has five production units in India. The American plant would be their sixth unit and the first production unit outside India. Europe is one of the company's biggest markets, accounting for more than half of its overall turnover.
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