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Apollo Tyres South Africa transaction concluded

"The new company will be known as Sumitomo Rubber South Africa (Pty) Ltd."

Following the recently announced transaction between Japanese tyre manufacturing giant, Sumitomo Rubber Industries (SRI), and Indian owned Apollo Tyres Limited (ATL) in May this year, I am pleased to announce the formal acquisition of Apollo Tyres South Africa (ATSA) by SRI on November 01st 2013. The new company will be known as Sumitomo Rubber South Africa (Pty) Ltd.

The newly formed Sumitomo Rubber South Africa (SRSA), under my leadership as CEO, includes ownership of the Ladysmith passenger tyre plant and all employees of this plant and the Head Office in Durban. The plant in Durban has been renamed - Apollo Durban (Pty) Ltd. The Durban factory plant and associated staff remain under the ownership of Apollo Tyres Limited (ATL).