JK completes acquisition of Tornel
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),
“JK Tyre and Industries Ltd will substantially increase its global foot print with this acquisition,†the company said in a statement.
“Strategic 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,†the statement continued.
This is an external link and should open in a new window. ERJ is not responsible for the content of external sites.
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)
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
- Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
- Unlimited access to ERJ articles online
- Daily email newsletter – the latest news direct to your inbox
- Access to the ERJ online archive