In a move marking its expansion in the global off-highway tyre market, India's TVS Srichakra Limited, known for its TVS Eurogrip, Eurogrip, and TVS brand of tyres, has announced the acquisition of the US-based Super Grip Corporation LLC. This strategic move comes as part of the company's broader vision to strengthen its position in the international market.
The board of directors of TVS Srichakra recently approved the establishment of a subsidiary in the United States, laying the groundwork for this ambitious acquisition. "The company fits in well with our plan to expand our off-highway tyre business globally," stated S Ravichandran, Director of TVS Srichakra, in a company release. He further emphasized the value addition expected from this acquisition, noting, "The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time."
Super Grip Corporation, headquartered in Tennessee and established in 1984, has been a prominent player in the industrial tyre market, known for its high-quality tyres. This acquisition by TVS Srichakra is not just a testament to its global aspirations but also a strategic fit for its expanding portfolio in the off-highway tyre segment.
For TVS Srichakra, this acquisition is a key step in its growth strategy, particularly in the off-highway tyre market. The company has recently made significant investments in its Madurai facility, including the establishment of a new plant that has effectively doubled its off-highway tyre production capacity. This expansion, primarily aimed at catering to global markets, underscores TVS Srichakra's commitment to becoming a major player in the international tyre industry.
The acquisition of Super Grip Corporation marks a new chapter for TVS Srichakra, as it not only enhances its product offerings but also strengthens its foothold in the competitive global market. With this move, TVS Srichakra is set to leverage Super Grip's established presence and expertise in the US market, thereby accelerating its growth trajectory in the off-highway tyre sector.
As the tyre industry continues to evolve with changing market dynamics, this acquisition is a clear indication of TVS Srichakra's proactive approach to global expansion and its commitment to delivering quality and innovation in the tyre manufacturing sector.
Visit: https://oht.tvseurogrip.com/segment/agriculture/
