Rs 5 cr/day loss on strike: Apollo
Talking about the company's plans for expansion, he said Apollo Tyres is scouting for acquisitions in overseas market. "We continuously look for opportunities. We have grown both by creating greenfield plants and acquiring existing units, and we are always on the look out," he added, without sharing details.
Earlier this year, Kanwar had said Apollo Tyres was looking to acquire a firm in the Latin American market to start its operations there.
It is reported that the Indian firm is in talks to acquire a majority stake in the US-based Cooper Tire & Rubber Company.
Apollo Tyres had also said that it would invest around 400 million euro (over Rs 2,500 crore) to set up two new facilities in East Europe and Brazil as it aimed to expand its global footprint over the next 3-4 years.
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