We have signed an agreement with Trelleborg AB (publ) (http://www.trelleborg.com/en) to form a joint venture in India for the manufacturing of tyres for two-wheeler vehicles. This venture is a part of our strategy to enter the fast-growing two-wheeler tyre market in India.
- Currently, Trelleborg is focused on the European market for the manufacturing of tyres for two-wheelers. The joint venture will pave the way for Trelleborg to grow its business globally by gaining access to additional production capacity.
- The joint venture will establish a production site in Western India and deliveries are expected to begin by end of 2020. The joint venture will be 76:24 owned by the Mahansaria family and Trelleborg, respectively.
- Through this joint venture, we look forward to providing technologically advanced products of global standards to the ever-evolving Indian two-wheeler tyre market. This joint venture is also in alignment with the Indian Government’s “Make in India” initiative as it will help bring foreign technology and capital to India for manufacturing locally and serving Indian as well as global markets.
Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative engineered solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about USD 3.92 billion and operations in about 50 countries.
Currently Trelleborg through its business division, Trelleborg Wheel Systems, sells two-wheeler tyres, amongst other category of tyres, under the brand name “Mitas” in European and North American markets.
For more information on Mitas Motorcycle tyres – https://www.mitas-moto.com/en