Consumer Tires Retail Suppliers

Apollo to acquire 100% of Vredestein

Order Reprints
Apollo to acquire 100% of Vredestein

A Dutch bankruptcy court has approved Apollo Tyres Ltd.'s offer to acquire 100% stake in Netherlands-based Vredestein Banden B.V. from Russian tire manufacturer Amtel-Vredestein N.V.

Vredestein is a 100% subsidiary of Amtel-Vredestein N.V. It operates a North American office in Metuchen, N.J., under the Vredestein Tyres North America banner.

"The parties concerned will be in a position to disclose any further information, including price, only after certain conditions have been met and certain approvals -- including regulatory and statutory approvals -- are granted," say Apollo officials. Amtel purchased Vredestein in April 2005.

Apollo is the largest tire manufacturer in India with $1 billion in annual revenue. In addition to its native country, Apollo counts Europe, Africa and the Middle East as major markets.

Related Articles

Apollo Tyres makes bid to acquire Cooper Tire

Apollo Tyres to acquire Cooper Tire

Russian tire manufacturer plans to acquire Vredestein

You must login or register in order to post a comment.