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TVS Srichakra Ltd. set to expand global off-highway tyre business

Oct 20, 2023

By: BlinkX Research Team

TVS Srichakra Ltd.'s Board of Directors has given the green light for the establishment of a subsidiary in the USA, aimed at acquiring Super Grip Corporation's business based in Tennessee. Super Grip Corporation, founded in 1984, specializes in providing high-quality tires for the industrial tyre market.

This move aligns with TVS Srichakra's growth strategy in the off-highway tyre sector. The company has recently made a significant investment in its Madurai facility, effectively doubling its off-highway tyre production capacity. This investment primarily targets international markets.

Mr. S Ravichandran, Director of TVS Srichakra Limited, expressed enthusiasm about the potential acquisition of Super Grip. He stated, "We are very excited about the proposed Super Grip transaction. The company seamlessly integrates with our plan to expand our global off-highway tyre business. Additionally, this transaction brings on board a skilled and driven management team that will contribute value to the business over time."