JK Tyres to sell Tornel radials from Jan

by Dave

Financial Express

In a move that would heighten competition for French tyre major Michelin and Bridgestone in the Indian market, Delhi-based JK Tyres will soon sell radial tyres manufactured by Mexico’s Tornel — the company it acquired last year — in the Indian market. The tyres would be competitively priced at Rs 15,000-Rs 25,000 and come with the specification that JK Tyres doesn’t have in India. “To test the market with Tornel radial tyres, we would introduce those tyres in the Indian market. After gauging the customer response, we would go on full steam with Tornell tyres in India,” JK Tyres and Industries marketing director A S Mehta said.

In an effort to expand operations overseas, JK Tyre and Industries had acquired Tornel for Rs 270 crore [~USD 55 mil]. Around 70% of the company’s tyres are used to cater to customers in Mexico and Brazil. At present, the company is not interested in any American firm as it has already made inroads into that market. With India and South America under its domain, JK Tyres has now set sights on the South East Asian market to cater to customers at that end.

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