As per industry sources Mr.Onkar Kanwar, MD of Apollo Tyres Ltd. is frequently visiting US and in regular touch with Cooper Tire chairman, Roy Armes. This time top management and whole legal team of Apollo Tyres are on US visit and they are working hard to make a successful deal with Cooper Tire.
This is not for the first time, that Mr.Onkar Kanwar, MD of Apollo Tyres Ltd. is trying such effort, last year also he offered Cooper Tire for merger but due to difference in interest Cooper Tire walked away from it. As per sources, from 1980 Mr.Kanwar is impressed with the performance of Cooper Tire and this is his dream to acquire US tyre veteran.
As per industry expert, if any deal may happen between these two companies, this will be one of the biggest news for Indian automobile sector.