Sun Tyre & Wheel Systems has announced that it has acquired Sri Lanka-based STARCO Lanka Private Limited.
Sun TWS, part of the 107-year, $8 billion TVS Group of India, currently produces off-highway tires, wheels and assemblies for Material Handling, Construction & Mining, Heavy Duty Trailers, Airports and Seaports customers. The acquisition of STARCO Lanka will add a 5th manufacturing plant for the company, which it expects will increase overall capacity by 40%.
STARCO Lanka was set up in 2011 to produce solid industrial tires, becoming an important partner for the original equipment manufacturers and key aftermarket distributors.
Joseph Fernando, President SUN-TWS commented, “the key to the continued success of our business is its unique business model, a passion for reliability and consistency, unrivaled customer service and an enduring loyalty to its clients; making SUN-TWS the preferred partner for its customers around the globe. This is an exciting opportunity that will bring anticipated synergy to our manufacturing facilities.”
“We see great potential to develop a partnership with SUN-TWS, immediately for our industrial segment, but also for other segments. We will maintain sales and distribution of our solid tire ranges as the market knows it today,” states Richard Todd, Chief Executive Officer at STARCO.