MRF Ltd on Thursday announced that it has become the first domestic company to introduce tyres for helicopters and aircraft targeted particularly at the defence sector. The defence ministry has been importing these tyres so far, said KM Mammen, chairman, MRF. The tyre-maker seeks to garner a sizeable chunk of the Union defence ministry?s expenditure on tyres for helicopters and aircraft.
?We had been asked by the defence ministry to develop a unique tyre for aircraft and helicopters. It took us three years to come out ?Aero Muscle?,? he said, adding that the new tyre has undergone rigorous testing under international standards. MRF has also received approval from CEMILAC (Centre for Military Airworthiness Certification) and RCMA (Regional Centre for Military Airworthiness) for supply of tyres to defence services.
?We are in talks with HAL, Air Force, the Indian Navy, Coast Guard and a host of defence services for supply contracts,? said Mammen. ?We are planning to set up a new production facility at our existing plant in Medak district of Andhra Pradesh at a cost ranging Rs 150-250 crore,? he informed.
He also said that since the project is approved by defence authorities and will help save foreign exchange, MRF will seek part-financing for the new plant from the Union government.
?As against the imported price of 240 pounds a tyre, MRF will offer the product at a competitive rate ,? he added.
?We expect these tyres to contribute 2 to 3% of our overall turnover in due course of time,? said Koshy Varghese, executive vice president (sales and marketing). MRF will also commercialise the product and export it to global markets.