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INDIA
being supplied from the retreading machinery hub Coimbatore.
According to Reddy, the expansion in Odisha had originally been planned for 2019 but had already been delayed by more than year. Fortune Tires already has two operational sites in Hyderabad (Telangana) and Singruali (Uttar Pradesh) respectively. The Hyderabad plant opened in 2013 and was retreading around 1,300 tyres per month before the pandemic. Meanwhile, the Singrauli facility, opened in 2016, has a capacity
of 500s tyres per month but currently retreads around 250 in a month.
Fortune Tire has a long-standing relationship with Vamshi Rubber (also based in Hyderabad). The company, owned by Vijaypal Reddy, became the first franchisee of Vamshi Rubber, and indeed two Vamshi directors held a stake in the company between 2013-19, although the company is now once again wholly owned by Reddy.
Fortune Tire has plans to focus on OTR and mining tyres once the country comes out of the
As part of its plan to enter new segments related to their existing core business, Indian tread maker Midas has announced the introduction of a series of niche products for promotion in overseas markets. As part of this move, the company has introduced a range of white/non marking treads for solid tyres for indoor applications such as in forklift tyres.
“This product is primarily for the export market and not available locally,” explained Paulose Varughese, Director, Midas Tread. According to the Kottayam based
tread maker, the white/non marking tread has received acceptability in the international market, specifically in Europe. “Midas white tread has a customised design and offers excellent life, maintaining colour until the end, and is winning accolades among customers based in Europe, said Varughese.”
The company says it has received interesting queries from both Europe and Asia and is already supplying to the German and Portuguese markets as well as to Japan. “Queries from Europe
pandemic and the economy moves at the pre-pandemic levels. Also, all future expansion is expected be in mining tyres as coal mining is expected to show growth in the region in the coming years, opening significant opportunities in retreading for the mining sector.
“Currently, we are retreading 1,500 tyres each month in both plants together, and the idea is to operate the plants to capacity and achieve production volume of 5,000 tyres per month from the all three plants in the next 2- 3 years,” said Reddy.
Midas Debuts Niche Range in the Export Market