JK Tyre to double exports from Mexican plants

MYSORE: JK Tyre and Industries is aiming to double exports from its Mexican subsidiary, Tornel, within a year, and is looking at the Central and
Southern American markets for expansion.

The tyre major had acquired Tornel in 2008, and currently about 75 per cent of Tornel's annual production of 66 lakh units is sold in the Mexican domestic market.

"Currently, only 25 per cent of Tornel's annual production is sold overseas. Our target is to increase the share of exports to 50 per cent within one year," JK Tyre and Industries Vice Chairman and MD R P Singhania told news agency.

He said the three plants of Tornel presently have a capacity utilisation of around 85-90 per cent, and the company is looking at further enhancing it.

"We are looking closely at the markets in Southern and Central American countries. We are already selling some products of all our three brands -- JK Tyre, Vikrant and Tornel -- in those countries and now we are looking to increase our exports to these countries from our three plants in Mexico," Singhania said.

He said the Brazilian market would be one of the major targets for expansion.

"In the region, our main focus will the Brazilian market. Brazil is one of the three countries along with India and China, which witnessed growth during the recent economic recession," he added.

At present, JK Tyre has 230 dealers across the Central and Southern American region.

"Our next goal is to strengthen the supply system to these dealers and strengthen our position in these markets," Singhania said.