Tyre major JK Tyre and Industries on Monday (22 August) said it has become the first Indian company to roll out one crore truck radial tyres from its Vikrant plant in Mysuru (Karnataka), a feat it has achieved 10 years after producing its millionth tyre from the facility.
"With 12 manufacturing plants globally and an annual capacity of 3.5 million truck and bus radials per annum, JK Tyre is the undisputed leader in this vertical," Chairman Raghupati Singhania told the gathering at the event that witnessed a robot rolling out the 10 millionth tyre.
"Starting 1977, when we set up our first tyre plant in Rajasthan with an annual capacity of five lakh tyres, we have come a long way with nine plants in India and three in Mexico," he said.
"JK Tyre pioneered the radial technology in India in the entire range of four-wheeler radials, was the first company to introduce truck and bus radial tyres, in 1999, and is now the largest producer," he added.
The company with successive acquisition has 9 plants in the country and has acquired 3 in Mexico.
"We have grown manifold by expansion of its existing capacity and acquisition, including that of Vikrant Tyres in Karnataka, as also a tyre company in Mexico, apart from the latest one- acquisition of 3 plants of Cavendish Industries in Uttarakhand," he said.
The Rs 22,00 crore acquisition of Cavendish plant helped the group to enter the highly competitive 2-3 wheeler tyre segment.
Singhania also informed that JK Tyre has completed the second phase of construction of its radial plant at Chennai with an investment of Rs 1,430 crore.
The Chennai plant has an production capacity of 12 lakh TBRs and 45 lakh PCRs which in future can be scales up to 2 million truck radials and 10 million car radials.
BW Reporters
The author is Senior Correspondent with BW Businessworld
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