MTP opens US$100 million off-highway tyre factory in India
Mahansaria Tyres Private Limited (MTP) commenced manufacturing at its greenfield off highway tyre factory in Panoli, in the western Indian state of Gujarat.
Set up with investment of more than US$ 100 million, the plant is spread across 127 acres of land in a Special Economic Zone. With a first phase capacity of 40,000 metric tonnes per annum, the plant will produce agricultural, industrial, construction and earthmover tyres.
The plant was virtually inaugurated company chairman Ashok Mahansaria as well as managing director and CEO Yogesh Mahansaria in the presence of key members of the organisation. Speaking at the inauguration, Ashok Mahansaria said he appreciated the untiring efforts of all team members to successfully bring on stream the plant despite the challenges posed by the COVID pandemic
Yogesh Mahansaria commented on the firms new Acenso brand as well as the factory investment in general: “Our goal is to build a strong presence in the global off-highway tyre market. The company has a robust product offering in the pipeline starting from bias to high end steel radial, and all steel belted tyres which will address the toughest application, in the segment. We are extremely positive about the global market and believe that the market has significant opportunity and room for a new brand in the value segment. Through our new brand “Ascenso”, we are committed to offer a wide range of world-class tyres that will help our customers unlock the true potential of their business…”
Yogesh Mahansaria also explained how the company’s recent European investment works in conjunction with the new factory: “Our acquisition of a majority stake in European Agriculture Tyre Distributors GmbH is a first step in building a robust distribution in a highly competitive market of Europe. We are also grateful to all our business partners globally who have shown their extreme confidence in our endeavor and partnering with us from the very beginning of this journey”.