Elgi Rubber buys US machinery producer
India’s Elgi Rubber Co. Ltd has acquired US retreading equipment manufacturer American Equipment Manufacturing Inc., a firm better known in the market as Cincinnati Retreading/Reclamation Systems; CRS was established in 1975 as a division of American Equipment Manufacturing. The Aztec (New Mexico) headquartered firm is primarily known for its buffing machines, which are produced in the CRS factory in Fairfield (Ohio). According to media reports, Elgi Rubber intends to further expand the facility.
Under the umbrella of Elgi Rubber International Ltd., the Indian company offers pre-cure treads and further materials for retreading and tyre repair. During the 2013/2014 financial year, which ended 31 March 2014, Elgi Rubber Co. Ltd. achieved an annual turnover of just under five billion rupees (£51 million).