BKT suspends plan for US tire plant

Maharashtra, India – Off-highway tire manufacturer Balkrishna Industries Ltd. (BKT) is suspending its plans for a US tire factory, citing “business uncertainties” related to difficult macroeconomics and the “volatile” climate conditions.

BKT announced plans last October to build a $100 million (€89 million) plant in the US, saying the investment would help it accelerate its business with North American equipment makers.

The Maharashtra-based tire maker disclosed its decision to put the plans “in abeyance” in a first-quarter fiscal 2020 financial document, but did not elaborate on the statement.

The…

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