Financial Daily from THE HINDU group of publications
Wednesday, Dec 18, 2002
Financial Daily from THE HINDU group of publications Wednesday, Dec 18, 2002 |
|
|
|
|
|
Corporate
-
Outlook JK sees China as global base for tyre exports K.R. Srivats
NEW DELHI, Dec. 17 JK Industries Ltd (JKI), manufacturer of JK Tyres, plans to cash in on the opportunities thrown up by China on a multi-fold basis. JKI sees China emerging as a major sourcing base for truck tyres in the coming years. "We are looking at a five-fold increase (in rupee terms) in the value of tyres sourced from China in the next four years. Our current sourcing arrangements gives us a turnover of about Rs 80 crore in rupee terms, which we expect to increase to Rs 400 crore in the next four years," Mr Raghupati Singhania, Managing Director, JKI, told Business Line here, after receiving the Rajiv Gandhi National Quality Award 2001 for the company's Kankroli tyre plant. JKI's international arm has recently entered into a sourcing arrangement with a Chinese company for sourcing truck tyres for its international markets. The company has till date entered into tie-ups with three Chinese companies for sourcing light commercial vehicle tyres and also truck tyres. In comparison to the expected fast growth in sourcing operations from China, JKI expects only a limited growth in exports from its domestic facilities. "We see our exports from India growing from the current level of Rs 270 crore to Rs 400 crore in the next four years. This coupled with the Rs 400 crore that we expect from Chinese arrangements would mean that JK Industries will participate in the global tyre market to the extent of about Rs 800 crore in a year," Mr Singhania said. He also said that JKI might in the coming years look at equity investments in China. "We want to learn and understand the China market well before we invest there. We want to feel our way through and not jump into investments like some other players from India," Mr Singhania said.
Send this article to Friends by
E-Mail
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |
Copyright © 2002, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|