Chennai, Oct 21 – The Board of Directors of TVS Srichakra Ltd. has given the green light for the establishment of a subsidiary in the USA, paving the way for the potential acquisition of Super Grip Corporation, a Tennessee-based company established in 1984. The move aligns with TVS Srichakra’s growth strategy in the off-highway tyre market.
Super Grip Corporation caters to the demand for high-quality tyres in the industrial tyre market. TVS Srichakra’s proposed acquisition is in line with its expansion plans, and the company has recently invested in a new plant at its Madurai facility in Tamil Nadu, effectively doubling its off-highway tyre capacity. This investment primarily targets global markets, according to a company release.
S Ravichandran, Director of TVS Srichakra Limited, expressed enthusiasm about the proposed acquisition of Super Grip. He stated, “We view the proposed Super Grip transaction with excitement. The company fits in well with our plan to expand our off-highway tyre business globally. The proposed transaction also brings with it an experienced and motivated management team, which will add value to the business over time.”
