Apollo Tyres kicked off brand ties with Man U
Apollo Tyres, an Indian tyre manufacturer, announced a 3year regional partnership with the popular football team - Manchester United. The agreement was signed between the Chairman of Apollo Tyres Ltd and Manchester United Group Managing Director.
The partnership will make Apollo Tyres the official tyre partner of Manchester United in India and the U.K.
The tie-up—financial details of which the parties involved declined to outline—will see a “joint community commitment to encourage healthy lifestyles and develop sporting skills in young people.” This will involve building “Go the Distance” football pitches made from recycled tyres in local communities across the U.K. and India.
The first of such play zones will be at Old Trafford, a football stadium in Manchester.
Managing Director said that the team “would love” to go to India, where there is a “strong sporting tradition and where over a billion people have such huge enthusiasm for sport.”
About Apollo Tyres: Apollo Tyres Ltd is the world's 7th biggest tyre manufacturer, with annual consolidated revenues of Rs 121.5 billion in 2011. It was founded in 1976. Its first plant was commissioned in Perambra, Kerala.
On 12 June 2013, it is reported that Apollo Tyres Ltd would buy US-based Cooper Tire & Rubber Company for about $2.5 billion in a deal that would make it the world's seventh-largest tyre maker. It is planning to become the 10th biggest tyre manufacturer in the world with annual revenues of $6 billion by 2016.
About Manchester United: Manchester United Football Club is an English professional football club, based in Greater Manchester, that plays in the Premier League. Manchester United is one of the wealthiest and most widely supported football teams in the world.
This post contains the Indian Business current affairs of August 2013. These are short Business current affairs 2013 notes for quick review.
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