NEW DELH, India (April 29, 2009)—J.K. Tyre & Industries Ltd. has embarked on an expansion of radial passenger tire capacity at its Banmore, India, factory.
The company said it is boosting capacity annual capacity at the site almost 14 percent to 5 million tires annually, at a cost of about $10 million.
JK had put the project on hold, citing the economic downturn, but Managing Director Raghupati Singhania said business has improved and it decided to go ahead with the expansion.