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Birla Tyres scouts for partners for strategic collaboration

The discussions with prospective partners and funding agencies are in advanced stages and would be finalised in the next three to six months.

September 30, 2020 / 03:23 PM IST
 
 
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Birla Tyres, which was recently carved out of Kesoram Ltd, is in talks with multiple prospective partners both within the country and overseas for strategic collaboration, a senior company official said.

The discussions with prospective partners and funding agencies are in advanced stages and would be finalised in the next three to six months.

"The company is in talks with multiple partners both within the country and overseas for strategic collaboration, including technical know-how to manufacture an off-site range of tyre products and other specialty segments," Manjushree Khaitan told shareholders at the company's virtual annual general meeting on Tuesday.

The company was looking at all tyre segments including off-road and other special categories, she said.

The tyre manufacturer's CEO P Radhakrishnan said plans were afoot to raise about Rs 200 crore in combination with fresh equity and debt.

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"Discussions with prospective strategic partners and funding agencies were in advanced stages and would be put in place in the next three to six months," he said.

The company's facilities in Odisha are also being revamped to maximise capacity utilisation through an innovative mix of existing and new product lines, he added.
PTI
first published: Sep 30, 2020 04:31 pm

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