Kolkata, India – Kesoram Industries is restructuring its tire business by selling one unit and investing Rs 300 crore (€41 million) to move into the production of radial tires for cars, according to a report by India’s Business Standard.
Part of the BK Birla company, Kesoram intends to carry out the investment within the next six months in addition to the Rs 500 crore already spent for the move into car radials.
Tridib Kumar Das, the company’s chief financial officer, told Business Standard that production capacity of Kesoram’s Balasore plant will rise to 600,000 car radials a month, 200,000 tires for two wheelers and another 125,000 tires for commercial vehicles.
As reported by ERJ is September, JK Tyre & Industries bought Kesroam’s tire and tube plant in Haridwar, India for nearly €300 million.
The factory in Laksar-Haridwar, Uttaranchal Province, opened in 2009 and is rated at 4.4 million truck and two-wheeler tires per year.