UPDATE 1- Apollo Tyres says cancels Hungary project

Newswire

(Adds details, analysts comments, updates shares) MUMBAI, Aug 18 (Reuters) - Apollo Tyres Ltd said on Monday it is withdrawing its planned facility at Gyongyos, Hungary, citing administrative hurdles and division within the local community on the issue. The tyre maker would seek an alternative location elsewhere in Hungary or Europe, it said in an e-mailed statement. Apollo Tyres said it was reconsidering the Hungarian project due to "potential divisions" within the Gyongyos community. ...

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