JK Tyre Completes Rs 2,195 cr Acquisition of Cavendish
JK Tyre & Industries has completed the Rs 2,195 crore acquisition of Cavendish Industries, a Kesoram Industries unit, enhancing its position in the domestic market, especially the truck and bus radial segment.
"With the completion of the acquisition of Cavendish Industries we have further strengthened our position in the truck and bus radial segment. It has also given us entry into two and three wheeler vertical," JK Tyre & Industries Chairman and MD Raghupati Singhania told reporters here.
The acquisition is in line with strategic vision of JK Tyre to become one of the leading tyre companies of the world having a well rounded portfolio of product offerings, he added.
The acquisition brings an additional capacity of 100 lakh tyres to the JK Tyre, he added.
Caven...