Charlotte, North Carolina - Carlisle Companies Inc. has completed its acquisition of Meixian Tengfei Tyre Co. Ltd., a Guangdong, China-based light truck and industrial tyre maker also known as Meiyan Tire Group.
The purchase price was about $19.6 million, Carlisle said in its 10K filing with the Securities and Exchange Commission.
Earlier Carlisle said the addition of the Chinese company would enable it 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.
Meixian Tengfei 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 firmis industrial components segment, Carlisle said.
Carlisle did not comment on the size of Meixian Tengfei.
From Rubber & Plastics News (A Crain publication)