Apollo, an Indian manufacturer of tires, has bought Vredestein Banden,...

Apollo, an Indian manufacturer of tires, has bought Vredestein Banden, a Dutch maker of tires for both bicycles and passenger cars. Apollo makes tires only for vehicles, not bikes. Vredestein Banden will keep its current management, though the companies will integrate functions in R&D, product development, corporate purchasing and finance. It was bought by Amtel, the largest tire maker in Russia, in 2005, but Amtel was recently declared bankrupt. For 2008, Vredestein Banden had revenues of about €307 million.