Michelin to buy Apollo’s share of Indian truck tyre venture

Gurgaon, India — Groupe Michelin is buying out Apollo Tyres Ltd.’s share of their Michelin Apollo Tyres Pvt. Ltd. joint venture and will take full control of the firms’ project to make radial truck and bus tyres in India.

At the same time, the partners said they are delaying by at least a year their plan to set up radial production. The new plant, at a site in Ranjanguaon, originally was to have come on stream this year, the partners said in early 2004, with annual…

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