Leveraging the Mahansaria Family’s experience, knowledge and successful track record in the Off-Highway Tire (OHT) market, MTPL is setting up a greenfield OHT business focusing on the after-market for tires used in agriculture and construction/industrial/otr machinery.
The 127-acre manufacturing facility is located in Panoli Industrial area of GIDC. Panoli lies in Bharuch district of Gujarat, about 320 Kms to the north of Mumbai and is about 80 Kms from the Hazira Port. The proposed facility is expected to have a manufacturing capacity of 70,000 MT built in two phases. The construction of Phase-1 with a capacity of 40,000 MT is underway and it is expected to be operational by June 2020. Investment for Phase-1 stands at approx. $ 107 million.
As part of its market entry strategy, MTPL has reached an in-principle agreement to acquire a majority stake in European Agriculture Tyre Distributor (EATD). This is the first step by MTPL in building its distribution network in Europe. EATD, based out of Netherlands and with an office in Germany, is the exclusive distributor for the Tianli speciality tyres business in Europe. EATD has a presence in most parts of Europe with dedicated Tianli dealers. EATD was founded by industry veterans Mr. Wolfgang Luettschwager and Mr. Marcus Reedijk.
We believe the real strength of a great company lies in its people. Under the able leadership of Mr Ashok Mahansaria and Mr Yogesh Mahansaria, the management team at MTPL comprise of mix of experienced professionals, having vast experience in the off-highway tyre sector and young talent, bringing passion and dynamic energy into the Company.
MTPL is supported by long term institutional investors
International Finance Corporation (IFC) is supporting the project by investing in MTPL. IFC is the financial arm of the World Bank Group. It is the largest global development institution focused exclusively on the private sector in developing countries. IFC is acquiring a 10% stake in MTPL and syndicating a loan of $ 54 million in conjunction with a German financial group, DEG. Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG) is a European development finance institution for long-term project and company financing. DEG has been a member of KfW banking group and is thus an integral part of its international project activities such as exports finance and financial cooperation with developing countries.
For more info on:
IFC – www.ifc.org
DEG – www.deginvest.de