TVS unit enters Sri Lanka's solid tyre industry

ERJ staff report (DS)

Sun Tyre & Wheel Systems, part of the $6 billion TVS Group of India, has

announced the completion of the acquisition of Watts Lanka Private Limited, a

company set up for manufacturing Solid Industrial Tyres in Colombo, Sri

Lanka.

Watts Lanka Private Limited (to be renamed shortly) was a joint venture

between Watts Tyres Limited of the UK and KVK Invest JSC of Bulgaria, principal

shareholder in Balkancar Zarya PLC.

The acquisition of the Sri Lankan company will not only add much needed capacity and

considerably ease delivery pressures, but also provide strategic location advantages by

establishing a base in the world's center for solid tyres. Work has already begun on

adding more manufacturing equipment to increase the base capacity in Colombo.

Production and shipment from Sri Lanka will commence within the next 4 weeks.

Sun Tyre & Wheel Systems has more than 95 percent of its sales overseas,

with distribution across all continents, and despite expanding its manufacturing facilities

in India substantially over the past 3 years, still finds itself seriously short of capacity.

Even during the global recession, the company clocked a healthy growth rate of 40 percent,

which is continuing unabated.

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Home page of Sun-TVS

Press release from Sun Tyre & Wheel Systems