TVS Srichakra to acquire Super Grip, USA, to develop off-highway tyre business

As part of its strategy to expand in the worldwide off-highway tyre industry, TVS Srichakra Ltd, the company that makes TVS Eurogrip, Eurogrip, and TVS brand tires, has developed plans to purchase the US-based Super Grip Corporation.

The creation of a subsidiary in the American market prior to the purchase plan was approved by the company's board of directors on Friday. Established in 1984, Super Grip Corporation manufactures premium tires for the industrial tire industry.

"We are enthusiastic about the potential Super Grip acquisition. The business fits in nicely with our worldwide expansion strategy for our off-highway tire business, "Director of TVS Srichakra Ltd. S. Ravichandran stated in a corporate release here.

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In addition, he added, "the proposed deal includes a seasoned and driven management team, which will add value to the firm over time.

To quadruple the capacity of its off-highway tire manufacturing in Madurai, TVS Srichakra recently invested in a new plant. According to the statement, "This investment is primarily targeted at international markets." Around three million tires may be produced every month at the Indian company's factories in Rudrapur, Uttarakhand, and Madurai, Tamil Nadu. More than 85 nations may buy TVS Srichakra goods, according to the announcement.

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