The two companies will together expand their reach across India to cater to aftermarket tyre repairs and services. TVS ASL operates through brand My TVS. This joint venture with one of the biggest distributors of equipment, tools and accessories besides consumables for tyres will play a major role in their overall development in the future while they are also looking at the possibility of manufacturing facilities in the country both for local consumption and exports.
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.