Myers Tire Supply and TVS Automotive Solutions JV
A joint venture has been formed between Myers Tire Supply International Inc., and India’s TVS Automobile Solutions Ltd. (TVS ASL). Now to be called Myres Tyre Supply India, the company will conduct the distribution of tools and equipment to the Indian automobile aftermarket.
The JV will also help in development of global sourcing capabilities and operations through a local network will ensure the ability to meet customer’s demands head on while supplying quality and competitively priced tools, equipment and services.
Myers Tire Supply is a $175 million arm of Myres Group. The company deals in tyre and tube repair tools, accessories and consumables besides in the supply of puncture repair kits for both passenger and commercial vehicle for radial and tubeless tyres.
“We are pleased about expanding our long term relationship with TVS ASL, a leading automotive aftermarket company in India. Our small investment in this joint venture aligns with the geographic expansion strategy for our Distribution Segment. The global presence of Myers Tire Supply, which excels in providing tools and consumables to independent tire dealers and tire retreaders, complements TVS’ strength in equipment sales to automobile dealers in India,” said John C. Orr, President and CEO of Myers Industries.
“We are happy to take our decade-long relationship with Myers Tire Supply to the next level, allowing us to bring in a strong player to the tools and consumables market. Together we will form an important piece of the Aftermarket Service Solution that TVS ASL endeavors to give to the Auto Industry,” added R. Dinesh, Joint Managing Director of TVS.
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