TVS Automobile Solutions inks JV with Myers Tire Supply Int’l of the US

Chennai, June 12, 2013: MyTVS has announced a joint venture with Ohio-based Myers Tire Supply International Inc for the distribution of equipment, tools and accessories relating to tyre repair. The newly formed venture, in which TVS Automobile Solutions – the company which operates through MyTVS brand – will have a 65 percent share, will promote both Myers’ range of products and TVS ASL’s tools and equipment business in India.

The joint venture will focus on the core capabilities of TVS ASL’s sales and service knowledge of equipment and repair services in India and Myers’ tools and consumables for tyre repair and maintenance.

TVS ASL’s president and CEO, Sanjay Nigam, said, “This JV will give us the first-mover advantage in the largely fragmented and unorganised aftermarket tyre repair service in India. Our tie-up with Myers will bring in the global best practices in the aftermarket tyre service business though its service equipment and consumables.” James Drohan, general manager of Myers Tire Supply International Inc, said: “Not only does this JV coincide with the geographic expansion growth platform for our distribution segment, but it also provides entry into the fast-growing Asian market.”

Myers Tyre Supply provides complete solutions for tyre repairs and maintenance services including modern repair process for passenger car, CV and off-road equipment tyres. The business model will be customised and implemented in India to suit the requirements of Indian market and customers. The expertise of Myers will also be shared via training of technicians in handling/repairing new age tyres and wheels.

TVS ASL’s tools and garage equipment business deals with sales and service of garage equipment like scissor lifts, two-post lifts, wheel alignment machines, tyre changers, spot welders, and MIG welders. Myers Tire Supply deals with tyre and tube repair tools, accessories & consumables, puncture repair kits and consumables like valves and patches.

KARTHIK H

(L-R): James Drohan, general manager, Myers Tire Supply International and Sanjay Nigam, president and CEO, TVS Automobile Solutions, signing the joint venture agreement.