TVS Srichakra to buy Super Grip Corporation, USA to strengthen off-highway tyre portfolio

In a statement, the company said that for TVS Srichakra, the proposed acquisition is in line with its growth agenda in the off-highway tyre market.

Autocar Pro News Desk By Autocar Pro News Desk calendar 20 Oct 2023 Views icon3108 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
TVS Srichakra to buy Super Grip Corporation, USA to strengthen off-highway tyre portfolio

The Board of Directors of TVS Srichakra Ltd. on Friday approved the formation of a subsidiary in the USA with the intention of acquiring the business of Super Grip Corporation, USA.

Super Grip Corporation is a Tennessee-based company, established in 1984, to meet the need for tyres for the industrial tyre market.

In a statement, the company said that for TVS Srichakra, the proposed acquisition is in line with its growth agenda in the off-highway tyre market. The company has recently invested in a new plant at its Madurai facility, which doubles its off-highway tyre capacity. This investment is largely directed at global markets.

S Ravichandran, Director, TVS Srichakra Limited, said, “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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