ATG to set up third plant in India
The plant will see an investment of $165 million
Off-highway tyre-maker Alliance Tire Group (ATG), owned by the Japanese Yokohama Group, is organising its third plant in Visakhapatnam with an funding of $165 million (round Rs 1,240 crore).
The proposed $165-million plant will add over 20,000 tonnes every year (55 tonne per day rubber weight) capability to the 2.3-lakh-tonne annual manufacturing and might be commissioned by 2023. The plant will generate round over 600 new jobs, including to its 5,500-strong headcount, said Nitin Mantri, chairman of Yokohama India and director of ATG.
ATG has one plant at Dahej in Gujarat with an annual capability of 1.3 lakh tonne (360 tonne per day) and one other at Tirunelveli in Tamil Nadu with an annual capability of 1 lakh tonne. The group has a 45,000-tonne plant in Israel and a principal R&D centre.
These two factories produce all of the three key off-highway tyre manufacturers of ATGAlliance for agricultural equipment, Galaxy for building & industrial equipment, and Primex for forestry equipment and over 90 per cent of the manufacturing is exported to over 120 international locations.
It has made an exception with its Dahej facility where they make radial tyers for heavy automobiles. The new plant will even be for off-highway tyres solely. For that reason, it has invested over $200 million in India up to now.
With over 90 per cent of its India output exported, the main focus stays exports and farm phase is the one one the place it has round 4 per cent market share in the nation. The privately held ATG provides 3,000 kinds of tyres globally together with in the US and Europe and has under-5 per cent world market share.
The new plant, with a every day capability of 55 tonne (rubber weight) will come up in the particular tasks zone at Atchutapuram industrial park close to the Visakhapatnam port. The Yokohama Group has eight off-highway tyre crops throughout 4 international locations — Japan, India, Israel and Vietnam. The six-decade-old ATG specializes in design, improvement, manufacturing and advertising of agriculture, forestry, building, industrial, earthmoving, mining and port tyres serving 120 markets throughout all of the continents below the Alliance, Galaxy and Primex manufacturers.