MRF looks at captive rubber plantation to cut raw material cost
Tyre manufacturer MRF Ltd was looking at acquiring rubber estates to meet the company’s long-term raw material requirements and to bring down costs, a top official said. “We are scouting for acquisitions of estates abroad to meet long-term rubber needs,” said Koshy Varghese, executive vice-president, marketing, MRF. The concern now is the long-term supply of rubber, although prices of rubber have cooled off both in the global and domestic markets”, he said, adding MRF had sent teams to Malaysia, Indonesia Vietnam, and Cambodia to scout for potential acquisitions of rubber estates..
