Charlotte, North Carolina - Carlisle Companies Inc. has agreed to buy the assets of Meiyan Tire Group of Meizhou, China, for an undisclosed price.
The acquisition, expected to close before the end of the first quarter, will enable Carlisle to "internalise" production of cross-ply and steel-belted radial trailer tyres and provide "enhanced manufacturing capabilities" for larger tyres for the agricultural and construction markets, according to Richmond McKinnish, Carlisle president and CEO.
Meiyan Tire will become part of Charlotte-based Carlisle Tire & Wheel Co., which already operates one factory in China, in Shenzen in Buji Province.
The Meiyan operation also could become a "key growth platform" for the firmÂ´s industrial components segment, Carlisle said.
From Rubber & Plastics News (A Crain publication)