Mahansaria Tyres starts tire production at new plant

Mahansaria Tyres Private Ltd (MTPL) commenced commercial production at its new tire plant in Panoli, Gujarat, India.

The initial investment in the plant has reached 90 million euros, and at the first stage it can produce about 40 thousand tons of finished products per year.

The plant will produce tires of the Ascenso brand for agricultural, industrial and construction equipment. The products are intended both for the domestic market and for export.

Yogesh Mahansaria, Chief Executive Officer of MTPL, said that thanks to the new plant, the company enters the industrial tire segment, where it will strengthen its presence. The plant, he said, offers a wide range of quality products - from bias and radial tires to all-steel products. “We are extremely positive about the global market and believe there is room for a new budget brand,” he added.

Earlier this year, MTPL acquired a majority stake in Dutch tire distributor European Agriculture Tyre Distributor (EATD). This acquisition, as noted by Yogesh Makhansaria, was the company's “first step” in establishing a distribution network in a complex and highly competitive European market.