Apollo will not build plant in Hungary

Aug. 15, 2008

Indian tiremaker Apollo Tyres Ltd. has withdrawn its application to set up a European manufacturing facility in Hungary.

"The decision follows unexpected delays in administrative processes required for the start of the 200 million euro greenfield investment," say Apollo officials.

This past January, Apollo announced it had selected a site in Hungary for its first production facility outside of India. Apollo officials say the company will pursue other alternative locations in Europe.

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