Saturday, April 12, 2008

JK Tyre Buys Mexican Tyremaker For Rs 270 Cr

New Delhi: JK Tyre & Industries Ltd on Friday said it has acquired Mexican tyre company Tornel for Rs 270 crore to expand its global footprint.

The buyout is expected to close by end-May 2008, the company said in a statement.

Tornel has three tyre plants with a combined annual capacity of 6.6 million tyres and employs 2,000 people, the statement added.


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