Al Rawas Signs Emrald Industrial Tyre JV in Oman
Al Rawas Auto LLC, part of the Oman-based ASB Group of Companies, has agreed to distribute Emrald branded industrial tyres in the region. The deal also sees the company take an equity stake in Emrald Resilient Tyre Manufacturers Pvt Ltd, the flagship company of the Emrald Group of Companies, India. According to local news reports, “both the groups want to expand significantly in this market of industrial tyres and want to establish the brand as a leader in this fastest growing Middle East market.”
As a result of the marketing joint venture the companies will open exclusive marketing offices in Dubai and Saudi Arabia in addition to the first one in Muscat in order to develop a “complete network of sales and service for catering to the requirements of this fast-growing market.”
Speaking at the launch, Ashraf Abdullah Al Rawas, director of ASB Group of Companies, said: “This strategic partnership reveals the growing synergy between Oman and India in ensuring quality products are made available for the high-potential market of the Sultanate and the Middle East. ASB Group is proud to associate with Emrald Group, the leading manufacturer and exporter of industrial tyres around the world. We will be marketing these high-quality, customised products to various industries like food processing, pharma, besides airports and sea ports etc, in Oman and will also be handling the marketing in the other middle east markets. We want all users in Oman and other countries to derive the benefit of this high-quality product and ASB Group will participate more in the expansion plans of Emrald.”
Emrald exports its products to more than 100 countries around the globe including Europe and the US. The company has signed a major agreement with Super Grip Corporation in the US for the supply of tyres to major OEMS in the US, like John Deere, Volvo and. The company is also an OEM supplier to to Toyota, Caterpillar and TCM forklift vehicles in South African market.
According to a press released issued at the time of the joint venture announcement, Emrald holds a 95 per cent share of the India fork lift truck OE market and a 50 per cent market share in its domestic industrial tyre aftermarket.