ERJ staff report (TB)
Durban, South Africa -- Apollo Tyres South Africa Ltd. will invest $40 million over three years in new equipment and technology to improve productivity at its tyre plants in Durban and Ladysmith.
â€œThis investment will make it possible for us to remain globally competitive and reduce production costs,â€ said Apollo Tyres S.A. CEO Luis Ceneviz. â€œThe technology and equipment we will be bringing on-stream over the next three years will remove certain bottlenecks in our production processes, further enhance product quality and reduce waste-a critical focus areaâ€¦for an environmentally responsible tyre manufacturer.â€
Ceneviz noted the investment will allow the company-known as Dunlop Tyres International prior to its being bought by India's Apollo Tyres Ltd. in 2006-to pursue an aggressive growth plan for Africa and Latin America.
The new investment announcement follows recently completed upgrades to the Dunlop and Ladysmith plants, totalling $33 million over the past few years. The new investments should lead to the creation of more than 100 jobs.
Ceneviz noted the investment is a â€œdemonstration of our commitment to remain in the country and our continued belief in South Africa as an investment destination.â€
From Tire Business (A Crain publication)