JK Tyre surveys south east Asian prospects

ERJ staff report (BC)

Kolkata: JK Tyre & Industries Ltd has said it is bullish on south east Asia with its emerging economies, reports the Economic Times quoting the Press Trust of India (PTI). The company may look at acquisitions and setting up new projects in the region.

"South East Asian countries are our focus market," JK Tyre finance director A K Kinra told PTI.

"We are keen on greater penetration as these markets are in emerging economies. We may evaluate both acquisitions and greenfield options,” he said.

"There is, however, no concrete proposal on the table," Kinra added.

On the company's plans to acquire rubber plantations, he said that it was going slow and having second thoughts about entering into managing plantations or tie-ups for long-term sourcing.

The last acquisition was Tornel Mexico in 2008 and JK Tyre president Arun Bajoria had said that the company took almost five years to stabilise a buyout.

Meanwhile, Kinra said the currency volatility was unlikely to have significant impact on the company.

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Full article from Economic Times