New Delhi, India -- JK Tyre and Industries Ltd has completed the acquisition of 100 percent shares of Mexican tyre company Tornel along with its subsidiaries for Rs.2.7 billion (Euro 40 million),
â€œJK Tyre and Industries Ltd will substantially increase its global foot print with this acquisition,â€ the company said in a statement.
â€œStrategic location of Mexico offers Tornel free access to the NAFTA (North American Free Trade Agreement) trade block and emerging economies of central and southern America. Therefore, the acquisition has strengthened JK Tyre's market positioning in these territories considerably,â€ the statement continued.
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Source1 (Origin) story
JK Tyre acquires Mexican firm Tornel for Rs.2.7 bn Thaindian news (India)
Mexican company to run on JK Tyre Calcutta Telegraph (India)
JK Tyre acquires 100% shares of Tornel Zee News (India)