News from Notch Consulting, Inc.

November 12, 2018

BKT plans $100 million investment for U.S. tire plant

Filed under: Tires — Tags: — Notch @ 11:49 am

Off-highway tire manufacturer Balkrishna Industries Ltd. (BKT) is budgeting $100 million for the new tire plant it is planning to build in the U.S., the company disclosed this week.

The new factory will be BKT’s first factory outside of India and fifth tire plant overall. BKT is India’s fifth largest tire maker and thirty-ninth worldwide, based on fiscal 2017-18 sales of $692 million.

The company said it expects the new plant to open in the first half of 2021 with a capacity of 20,000 metric tons per year. That’s smaller than any of the company’s four plants in India. By comparison, the company’s newest factory, in Bhuj, Gujarat, is rated at 130,000 tons per year.

In a November investors presentation, BKT said the new plant would allow it to accelerate its business with North American equipment makers by being able to offer faster deliveries as well as enable it to export to neighboring countries “in a more competitive manner.”

BKT is represented in North America by BKT USA Inc. in Fairlawn, Ohio.

Read the full report here.

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