Michelin, Apollo advance Indian JV project

By Patrick Raleigh, ERJ On-line news editor

New Delhi, India-Michelin Apollo Tyres Pvt Ltd-the new 51:49 joint venture between Groupe Michelin and Apollo Tyres Ltd of India-has announced further details of its plan to establish tyre production in India.

Michelin Apollo Tyres was officially established in March to manufacture and supply radial truck and bus tyres in India. The company also plans to market and sell Michelin passenger car tyres in the sub continent.

To create the JV, Michelin agreed to buy a 14.9-percent stake in Apollo for…

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