Stating to be a historic day for tyre manufacturer JK Tyre & Industries ltd, Chairman and Managing Director (CMD) Raghupati Singhania on Monday said that the company is the first Indian tyre major to roll out 10-millionth truck/bus radial tyre from Vikrant plant here.
“Starting 1977, when we set up our first tyre plant in Rajasthan with an annual capacity of 5-lakh tyres, we have come a long way. Today, JK Tyre has grown multifold by setting up greenfield plants, expansion of the existing capacities and acquisitions, including that of Vikrant Tyre in Karnataka, as also a tyre company in Mexico, apart from the latest one - acquisition of three plants of Cavendish Industries in Uttarakhand,” Singhania said on the rollout occasion.
The mega event was held here in the august presence of Karnataka Industry Minister RV Deshpande, PWD Minister SC Mahadevappa, JK Tyre Industries CMD Raghupati Singhania and other dignitaries as well.
“Rolling out of 10-million radial tyres is unique milestone which only JK Tyre has achieved. The company has pioneered bus/truck radial tyres way back in 1999 and today it is the largest producer in this category,” Singhania added.
The company had rolled out 1-million tyres in way back in July 2005, so it took a span of only 11 years to cross the 10-million mark on August 22, 2016. While talking about investment in the Karnataka State, Singhania said, “We have invested more than Rs 1,200 crore in modernisation and expansion. With the recent acquisitions, we have entered the high growth segment of 2 and 3-wheeler tyres and thus JK Tyre now manufactures a complete range of tyres - right from a 3kilo scooter tyre to the 3.7 tonne large ultra large OTRR tyres.”
Singhania also said that technology has played a pivotal role in JK Tyre and the company is investing heavily in research and development to stay ahead in the tyre industry.
“We are setting up world-class research centre in Mysuru only, which will house most modern and advanced equipment, manned by highly-experienced engineers and scientists with deep insight into material resource, designs, aesthetics and structures,” he said.
JK Tyre is a multinational company with 12 plants globally with a future ready capacity of 350 lakh per annum. “We care for our prized customer so we have 4000 dealers to service them across India,” Singhania added. JK Tyre is a leading four-wheeler tyre manufacturer in India and amongst the top 25 manufacturers in the world with a wide range of products catering to diverse business segments in the automobile industry. JK Tyre has global presence in 100 countries across six continents, backed by production support from 12 plants - 9 in India and 3 in Mexico. Currently, the capacity across all its plants is about 35 million tyres per annum.
In April 2016, JK Tyre acquired Cavendish India limited from Birla Tyres. While the acquisition added three modern plants to its portfolio taking the total count to 12. It also helped the tyre major foray into the two/three-wheeler segment as well. Being pioneers of radial technology, JK Tyre produced the first radial tyre in 1976 and is currently the market leader in truck-bus radial segment. With over three decades of technological innovation, JK Tyre offers tyre for entire range of passenger and commercial vehicles, starting from a 3-kg two-wheeler tyre to a 3.5-ton OTR tyre.