JK Tyre to invest more in Mysore

JK Tyre has chalked out a five-year strategic plan to expand its Mysore facility (erstwhile Vikrant Tyres) by pumping in Rs 60 crore every alternate year till 2010 to increase capacity to 1.5 million tyres per annum from the present 370,000.

Addressing a press conference here on Thursday, Vikram Malhotra, general manager, sales and marketing, JK Industries said by investing Rs 60 crore last year the Mysore facility's capacity was hiked to 3.7 lakh tyres per annum from the earlier 2.5 lakh tyres per annum. The Mysore facility contributes Rs 300 crore to the company's overall turnover of Rs 2,300 crore.

The merger of JK Tyres and Vikrant Tyres in 2003 made the Mysore facility the company's radial tyre manufacturing centre to cater to both domestic and export makets. This was accompanies by infusion of technology, R&D infrastructure and a marketing network.

With the government impetus on infrastructure and radialisation of this segment in the country, the tyre indsutry is growing rapidly.