Balkrishna Industries Limited (BKT), one of the leading off-highway tire manufacturers, is planning to invest $100 million to set up a new production site in the U.S., making its first manufacturing site outside of India.
Europe is presently BKT’s largest sales market accounting for more than half of its overall turnover.
“The positive outlook led to the decision of establishing a wholly-owned subsidiary company in the U.S. to set up a greenfield project for the construction of a tire manufacturing plant designed for a yearly production capacity of about 20,000 MT in the entire Off Highway tire segment,” said a company statement.
