Apollo chairman Onkar S Kanwar has been awarded the Officers Cross (Civilian Division) of the Order of Merit of Hungary, in recognition of his work strengthening Hungarian-Indian economic relations through the company’s investment in Hungary, which created new jobs in the country.
This declaration was made by the president of the Republic of Hungary, Janos Ader, on the recommendation of the Hungarian prime minister. H E Gyula Petho, ambassador of Hungary to India, handed over the Order of Merit to Kanwar in Delhi at a special ceremony.
Apollo Tyres invested US$437.5m (€475m) in setting up the greenfield facility in Gyongyoshalasz, Hungary, which manufactures passenger car and commercial vehicle tires. The facility currently employs 800 people, out of which nearly 95% are locals. It is Apollo Tyres’ second factory in Europe, and sixth worldwide. Production capacity continues to be ramped up and will reach the planned production levels for Phase I by 2019.
