The Indian tyre manufacturer Apollo has acquired a Dutch tyre maker called Vredestein Banden BV. The amount for this trade hasn’t been revealed. The company became bankrupt last month.
The company has been renamed as Apollo Vredestein BV Private Limited and will be in the public listing with Apollo in the coming few months. The Dutch firm manufactured 5.5 million tyres annually getting the Apollo’s total annual production close to 17 million tyres. Vredestein specializes in producing high speed tyres and supplies it to the German auto giants like Audi and Porsche (both are a part of the VW Group). Around one-third of its production goes to the German market, these tyres are even sold in the other European nations, Middle East and the US.
