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BKT puts US plant project in abeyance

BKT puts US plant project in abeyance

Citing ‘business uncertainties’, BKT announced temporary suspension of its plan to build a manufacturing plant in the US.

The Indian OTR major, in its investor presentation submitted to BSE, said difficult macroeconomic and volatile climate conditions have led to business uncertainties and the company’s Board of Directors have decided to put the Project in ‘abeyance.’

Last year, BKT announced its plan to set up a $100 million construction project for a new tyre manufacturing plant in the US. The project was the company’s first plant outside India that will serve not only the US markets but the entire American region.

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