In a bid to enhance its market share to become the world 10th biggest tyre manufacturer by 2016, renowned Indian tyre manufacturing company, Apollo Tyres, has formally introduced its product range into the Nigerian tyre market.
The company, which recently celebrated the production of its first one million truck/bus radial tyres and broke new grounds when it acquired Dunlop Tyres South Africa in 2006 and the Netherland Vredestein Tyre in 2009, has appointed the tyre division of the Stallion Group as the substantive custodian of the brand in Nigeria.
At an inaugural banquet, titled 'An Evening with Apollo Tyres,' which held recently in Lagos to honour the distributors of the tyre brand, CEO, Apollo Tyres (Pty) South Africa, Dr. Louis Ceneviz, described Apollo Tyres as a global brand with an annual turnover of $2.5billion.
He described the introduction of the brand into the Nigerian market "as the beginning of an exciting journey that will enable Apollo Tyres usher ultra-high performance products that are suitable for speeds of up to 300 kilometres per hour."
According to Ceneviz, "We believe offering the right product to the right customer is essential ... and that is why we develop niche applications within a larger category to enable the provision of efficient fuel and cost saving products for each product segment."
Head of Marketing, Tyre Division, Stallion Group, Mr. Pinaki Sarkar, said in his remarks at the occasion that Stallion was proud to be associated with a leading brand such as Apollo Tyres which, according to him, will soon become the toast of motorists, haulage concerns and industrial plants in the country.
With an annual production of 400, 000 metric tons of tyres across all automotive categories and exports to more than 70 market destinations worldwide, Apollo Tyres, which was established in India over 35 years ago, currently has plants in three continents - Africa, Asia and Europe, with nine technologically-advanced plants in South Africa, Zimbabwe, India and The Netherlands.