TVS Srichakra’s board of directors on Friday approved the launch of a subsidiary in the USA, where the company aims to purchase the business of Super Grip Corporation, USA.
For those who are unaware, the Super Grip Corporation is a Tennessee-based company, which was established in 1984 to create high-quality tyres in the industrial market.
Sole Purpose of Formation
As per the details shared by the brand, the step has been taken to enhance the company’s off-highway tyre market. In order to achieve the goal, the leading tyre manufacturer also invested in a new plant at its Madurai facility. The sole purpose of big investment is to double its off-highway tyre capacity.
Here’s What Company’s Director Says
Commenting about the same, TVS Srichakra Limited Director, S Ravichandran said, “We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally. The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time”.
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