GRP joint venture brings Marangoni’s Ringtread system to India

26th November 2015 | 0 Comments
 
GRP joint venture brings Marangoni’s Ringtread system to India
The joint venture retreading facility in Indore officially opened on 23 November

Marangoni S.p.A. has provided additional details about the recently-announced commercial vehicle tyre retreading joint venture it has commenced with Indian rubber recycling company GRP Ltd. According to the Italian retreading specialist, the aim of the joint venture is to “establish a pan-Indian network of tyre retreaders able to spread the quality of the Marangoni system to commercial vehicle fleets.”

The first facility to be set up by the two firms is based in Indore and was inaugurated on 23 November. The site, like those to follow, is equipped with Marangoni machinery and specialises in pre-cure retreading according to the Marangoni Ringtread process, using materials sourced from the joint venture. The operation in Indore is India’s first Ringtread retreading facility.

Speaking at the plant’s inauguration, Marangoni Group chief executive officer Massimo De Alessandri said: “The evolution of the Indian market provides Marangoni a great opportunity to expand its global footprint. We have been studying this market for some years now and believe that the time is opportune to propose our retreading system to the country. The expanding road network and the wide acceptance of radials by fast professionalising fleets gives us the confidence that with GRP, we can establish a solid presence in India.”

Harsh Gandhi, executive director of GRP Ltd, added: “Our relationship with Marangoni as a supplier to them is more than a decade old and has been built on principles of mutual trust and respect. From our experience in tyre recycling, we believe that the growing pace of radialisation is an opportunity to bring a world-class retreading concept to Indian fleets. Marangoni was the most qualified partner for this.”

Marangoni says Indore was selected as the location for the joint venture’s first retreading facility as the city in central India is a large trucking hub and the level of commercial vehicle radialisation there is above 50 per cent, significantly higher than the current national average of around 36 per cent. GRP Ltd discloses that it and Marangoni each contributed Rs 10,000,000 (£99,000) to the joint venture, however this appears to an initial investment; Marangoni shares an expectation that the joint venture will “attract entrepreneurs looking to invest in the tyre retreading sector” in the coming months. The retreading specialist also foresees interest in the joint venture from independent retreaders and GRP’s present end-of-life tyre suppliers.

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Category: Company News, International News

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