JK Tyres to foray into overseas market
Tyre giant JK Tyres is accelerating overseas as it made its first international acquisition by taking 100 per cent shareholding in the Mexico-based tyre company Tornel for Rs 270 crore. The deal is expected to close by May 2008.From this acquisition, the company is expecting over $1 billion turnover and capacity expansion to 87 lakh tyres as well as access to South American markets.
