Iranian tire cord company buys local tiremaker

Tehran – Iran’s TireCord Co. has acquired local Pars Tire Co., in a deal that is worth IRR900 billion (€19 million), ERJ has learnt.

Pars Tire, which has been seeking investors in the past two years, has a nameplate capacity of 40,000 tonnes of bias truck and bus tires per year.

However, demand for these products is declining in both domestic and international markets.

“Bias tires were not doing too well for a long time, but over the past seven-to-eight months they have picked up, thanks to a…

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