BKT: Plans for plant in USA

Mittwoch, 19 Dezember, 2018 - 11:45
In charge: Rajiv Poddar of BKT.

Balkrishna Industries Limited (BKT) has announced a 100-million-dollar construction project for a new production location in the USA. The production plant will be the first production location of the multi-national group outside India. At the moment, BKT is generating more than half of its total turnover in Europe.

According to company information, America was identified as the market with the biggest growth potential. As a consequence, a Greenfield project will be started in order to build a new production plant in the USA. Both the replacement and the original equipment business will be the target markets in the USA. The rest of the demanded tyres will continue to be delivered directly from India. The board of directors had approved of the project, and for the first time, it was mentioned in the framework of the TIA Hall of Fame Award Ceremony in Las Vegas on 29th October 2018. While Rajiv Poddar, co-director at BKT, received the award in the name of his father, Arvind Poddar, CEO and Managing Director at BKT, the latter disclosed the company project during a video message. At the moment, the company is looking for an appropriate piece of land, which is to be found by the end of this year, so that purchasing the premises will be finished until the end of the first quarter 2019. The whole project is to come to an end until 31st March 2021.

Source: 

kle

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