ERJ staff report (DS)
Greenback Tennessee -- Davian Enterprises LLC has bought the assets, technology and intellectual property rights of Wyko Tire Technology. Wyko is a specialist Engineering Company, based in the United Kingdom, with manufacturing facilities located in Greenback Tennessee and was previously owned by Eriks NV, a Dutch company.
Wyko supplies specialised engineering equipment and tooling to the tyre industry with sales operations in all the main tyre manufacturing regions in the world and a customer base extending to all global tyre companies.
Davian is a new company which says it supplies equipment and manufacturing parts to the tyre industry through partnerships it has with suppliers based across Asia.
Ian Smith, the former President of Wyko Inc USA, has been named as CEO and P David Jones; the former Senior Vice President of Dunlop Tire Corporation as a Director. Smith and Jones set up DavIanlast December as a vehicle to acquire Wyko, though the deal is not a management buyout, according to someone close to the company.
Eriks NV will retain a financial interest in the newly formed company and Bill Wilson, Director of Eriks NV, will be the non executive chairman of Davian.
In announcing the acquisition, Smith stated â€œthis purchase of Wyko assets and its technology presents a unique opportunity for us to strengthen the Wyko name and to provide the support to our customers that recognize the Wyko product for its reliability and its contribution to improving tire performance and cost. We are please to continue the association with Eriks NV and together with our existing trading partners, we will be able to offer a wide range of goods and services to the tire industryâ€
Davian will continue to trade under the Wyko brand name and its products will continue to be designed and manufactured incorporating all the established patented Wyko Technology. There will be continuity of supply to all customers and full service support will be maintained in all sales regions.
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