Market and product
Sun Tyre Acquires Industrial Tiremaker in Sri Lanka
Sun Tyre & Wheel Systems offers global distribution, with more than 95% of its sales overseas. The company has expanded its manufacturing facilities in India substantially over the past 3 years, but still finds itself short of capacity. Even during the global recession, the company said its growth rate was 40%.
The acquisition of the Sri Lankan company will add capacity and ease delivery pressures, as well as provide strategic location advantages by establishing a base in the world’s center for solid tires. Work has already begun on adding more manufacturing equipment to increase the base capacity in Colombo, according to the tiremaker.
Production and shipment from Sri Lanka is scheduled to commence within the next 4 weeks.
(Source: www.tirereview.com)
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