In a bid to build a global, market leading Off-Highway tyre business, Mahansaria Tyres Private Limited (MTPL) announced an in-principle agreement to acquire a majority stake in European Agriculture Tyre Distributor (EATD) in November 2019. MTPL has now successfully completed the acquisition, and is pleased to welcome the EATD team and customers to the MTPL family.
In conjunction with the acquisition, EATD has relocated its operations from Strijen, Netherlands, to Wallenhorst in Germany. The company will distribute MTPL’s “Ascenso” brand of tyres in Germany, Austria, Switzerland, Belgium, Netherlands, Czech Republic, Slovakia and Poland, along with continuing to act as European distributor for Tianli tyres. Through this investment, the companies aim to develop EATD into a leading Off-Highway tyre distributor in Europe.
Mr. Yogesh Mahansaria, founder of MTPL, says, “We have known Mr. Wolfgang Luettschwager (founder of EATD) for over 20 years and have highest regards for his deep knowledge and experience in the European Off-Highway tyres market. We look forward to support EATD’s development in the coming years and a successful partnership with the Luettschwager and Reedijk families” “6 years after the foundation of EATD, it is time to set the course for a foreseeable future”, says Mr. Wolfgang Luettschwager. “The new combination of Tianli and MTPL and the support of a strong and dedicated team opens up new opportunities in a highly competitive market”, he concludes.
About MTPL:
MTPL is the company owned and promoted by the renowned Mahansaria Family, consisting of Father, Mr. Ashok Mahansaria and Son, Mr. Yogesh Mahansaria. MTPL is setting up a greenfield Off-Highway Tyre Manufacturing plant (tyres used in agriculture and construction machinery) with an investment in excess of US$ 100 million. The 127-acre manufacturing facility is located in Gujarat, India. Plant will start commercial production in September 2020 and has introduced a new brand “Ascenso” in the market for its off highway tyres. The Mahansaria family has more than 30 years of experience in the tyre industry. During this period, they have built two industry leading Off-Highway Tyre businesses (Balkrishna Industries Limited (BKT) & Alliance Tire Group (ATG)).
About EATD:
EATD is the exclusive distributor for the Tianli speciality tyres business in Europe. EATD has a presence in most parts of Europe with dedicated Tianli dealers. EATD was founded by industry veterans Mr. Wolfgang Luettschwager and Mr. Marcus Reedijk.
