Sumitomo Rubber invests US$60 million to acquire Apollo Tire South Africa

Comprehensive foreign reports, Apollo tires have announced that it has sold part of its business in South Africa to Sumitomo Rubber Industries for US$60 million.

Sumitomo Rubber recently acquired $60 million in Apollo Tire South Africa (ATSA), including a passenger car tire factory in Ladysmith, South Africa, and acquired access to the Dunlop brand in 32 markets in Africa. Apollo tires, on the other hand, retains card passenger car tires and off-highway tyre manufacturing facilities in Durban, South Africa.

Apollo Tire Chairman Onkar S Kanwar said: “Sumitomo Rubber has acquired a tire factory and ownership of the Dunlop brand on the African continent. The company had previously operated on the brand in many other parts of the world for many years. Apollo tires retained a A plant located in South Africa and capable of further expanding its market in Africa for two global brands, Apollo and Fred Tyre."

Through its own sales and distribution network, Apollo tires will continue to operate the Apollo, Fred and Regal brand tires in the African market. The company has also reached a contracted production agreement with Sumitomo Rubber. Both parties will use each other’s factories to produce their respective Brand tires.

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