EATD GmbH, which is a subsidiary of Mahansaria Tyres Private Limited (MTPL), has recently commenced trading under a new name, Ascenso Tyres CE GmbH, since February 1, 2023. CE stands for Central Europe, which reflects the company's exclusive distribution rights for Ascenso tires in 10 sales countries throughout Central Europe. This change of name is part of MTPL's strategic plan to become one of the leading manufacturers of "Off Highway" tires.
The collaboration between EATD and MTPL began in July 2020 when MTPL acquired a majority stake in EATD. EATD GmbH has been the exclusive importer of the Ascenso tire brand in Central Europe since then. Mahansaria Tyres Private Limited is focused on bringing the innovative and diverse range of Ascenso products to European customers. MTPL is a supplier of first-rate tires for the following sectors: agriculture, industry and construction, earthmoving machinery, material handling, and forestry. Since the launch of the brand, the portfolio has expanded to over 450 products and custom solutions tailored to specific customer needs.
The synergies between the two companies have been highly successful since the acquisition. MTPL has benefited from EATD's expertise in distribution and market presence in the European tire market, while EATD's customers have gained assurance that they are receiving quality products directly from the manufacturer, MTPL. In the last two years, the Ascenso brand has been one of the fastest growing tire brands globally, which will further enhance the position of Ascenso Tyres CE GmbH in the European market, according to Matthias Lüttschwager, the Managing Director of Ascenso Tyres CE GmbH.
EATD and the Mahansaria family have a history of over 30 years of partnership, and this name change signifies the strengthening of their relationship.
"We are delighted to continue our partnership with Mahansaria Tyres Private Limited and the Mahansaria family. We are two family companies that combine over 35 years of experience to build an effective distribution network and increase the success of our customers."
