Mahansaria Tyres Private Limited (MTPL) has made an agreement in-principle with Tyres International Inc (TI) to buy a majority stake in the US-based tyre wholesaler. According to MTPL, the move is the latest part of its bid to build a global, market leading off-Highway tyre business and the first part of MTPL plans to build its distribution network in North America.
Commenting on its agreement in principle to buy a majority stake in European Agriculture Tyre Distributor (EATD), Mahansaria Tyres Private Limited (MTPL) states that it intends to build a global, market leading off-highway tyre business. MTPL describes the acquisition as its first step towards building its distribution network in Europe and developing EATD into “a leading” European distributor. EATD has also announced that it will distribute MTPL tyres in Germany, Austria, Switzerland, Belgium, Netherlands, Czech Republic, Slovakia and Poland, along with continuing to act as a distributor for Tianli tyres.
EATD recently disclosed plans to bring a new investor on board, and when we spotted Yogesh Mahansaria visiting the distributor’s stand at Agritechnica 2019 the list of potential investor candidates suddenly became a whole lot shorter. Mahansaria is indeed the new investor; EATD confirms that Mahansaria Tyres Private Limited (MTPL) has reached an in-principle agreement to acquire a major stake in the company.
Yogesh Mahansaria is to step down as chief executive officer of the company he founded. Alliance Tire Group (ATG) has announced the appointment of Nitian Mantri as chief executive officer – designate, and states that he will “be taking over the reins” from Mahansaria over the coming few months.
As part of the organisational changes at Alliance Tire Group (ATG) following its acquisition by the Yokohama Rubber Corporation, Angelo Noronha, who is currently chief of aftermarket sales for Europe, will become president of the ATG’s APAC and MEA regional businesses. He takes on responsibility for markets in Asia, Oceania, India, the Middle East and Africa as of 1 January 2017.
Although Yokohama Rubber plans to “create a premier global tyre manufacturing company” through its acquisition of Alliance Tire Group (ATG) and resultant synergies in expertise and experience, the Japanese firm confirms it will retain the ATG business model, along with the company’s “culture” and brands.
Alliance Tire Group, or ATG, calls itself the industry’s fastest-growing manufacturer of off-highway tyres. To support this expansion the company recently opened a new factory in Dahej, India. The tyre maker says the state-of-the-art 122,000 square metre plant utilises the latest manufacturing technologies and is currently able to produce 90 tonnes per day or 33,000 tonnes of tyres per annum, with capacity expected to rise to 57,000 tonnes a year by the end of 2016.
Off-highway tyre maker ATG brought several new innovations to the Agritechnica show earlier this month. These included its new VF (Very High Flexion) sprayer tyre, the Alliance 354 AgriFlex+. Amongst the tractor and combine harvester tyres on display were the new Alliance 376 MultiStar IF (Improved Flexion) and the large volume 378 AgriStar XL. The flotation and agri-transport category was represented by the Alliance 380VF and 390MPT flotation radials plus the new 885 Flotation Radial in a 26.5 inch rim diameter.
Off-highway tyre specialist Alliance Tire Group (ATG) says it will launch “a broad range of new products in the flotation and agri-transport segment” at this November’s Agritechnica. While the tyre maker hasn’t yet provided full details of everything it intends to release at the show, it confirms that a new portfolio of Alliance all-steel high speed flotation radials for agricultural trailers will be on display.
The founder and CEO of the Alliance Tire Group has been honoured in Forbes India’s Leadership Awards 2014. Yogesh Mahansaria was one of nine Indian entrepreneurs selected by the publication as being outstanding in a particular field. Forbes India gave Mahansaria the ‘NextGen Entrepreneur’ award for “harnessing the competitive advantages of Indian and Israeli assets, and scaling up a niche B2B business globally by paying close attention to end users across geographies.”
Effective tomorrow, James Clark will take over as president of Alliance Tire Americas. He fills the position left open since May, when Manny Cicero announced he was leaving the company he’d led since 2007. Clark will be based in Alliance Tire Americas’ headquarters in Wakefield, Massachusetts.
ATG used Reifen 2014 as a platform for presenting itself as a company and for presenting its goals. At a press conference during the Essen show, CEO Yogesh Mahansaria led top management, including chief of marketing and sales Angelo Noronha and head of research and development Dr. George Ronai in a talk about products and plans.
Manny Cicero, president of Alliance Tire Group’s North American operation, will leave the company at the end of this month. Alliance Tire Group says the decision on Cicero’s departure was “mutually agreed upon”, and he will remain through to the end of 2014 as an advisor to the ATG board of directors. A successor has not yet been named.