Myers Industries Inc. has launched a joint venture with India-based TVS Automobile Solutions Ltd. to distribute tools, supplies and equipment into the fast-growing Indian automotive aftermarket.
The new company will be called Myers Tyre Supply India Limited Inc.
"We are pleased about expanding our long-term relationship with TVS Automobile Solutions, a leading automotive aftermarket company in India," said John Orr, president and CEO of Myers Industries. "Our small investment in this joint venture aligns with the geographic expansion strategy for our distribution segment."
"We are happy to take our decade-long relationship with Myers Tire Supply to the next level, allowing us to bring in a strong player to the tools and consumables market. Together we will form an important piece of the aftermarket service solution that TVS Automobile Solutions endeavors to give to the auto industry," said R. Dinesh, joint managing director of TVS.