Mahansaria Family has signed an agreement with Swedish engineering company Trelleborg to set up a tyre manufacturing facility for two-wheelers.
According to a statement, the joint venture will be 76 per cent owned by the Mahansaria Family and the rest 24 per cent by Trelleborg.
The proposed facility will come up in western India and deliveries are expected to began from 2020, said the release.
“Through this joint venture, we look forward to providing technologically advanced products of global standards to the ever-evolving Indian two-wheeler tire market,” Yogesh Mahansaria from Mahansaria Family said.
The statement further said that currently, Trelleborg is focused on the European market for the manufacturing of tyres for two-wheelers and the joint venture will pave the way for Trelleborg to grow its business globally by gaining access to additional production capacity.
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