Mahansaria Tyres has announced that production has begun at its new, greenfield, off-highway tire manufacturing facility in Panoli, in the Indian state of Gujarat. Set up with an investment exceeding US$100m, the plant is spread across 127 acres of land in a Special Economic Zone.
With a first phase capacity of 40,000MT/annum, Mahansaria says the plant will produce tires to cater to the ever-growing demand for agricultural, industrial/construction and earthmoving applications.
Commenting on the company’s foray into the off-highway tire segment, Yogesh Mahansaria, managing director and CEO, explained, “Our goal is to build a strong presence in the global off-highway tire market. The company has a robust product offering in the pipeline starting from bias to high-end steel radial, and all steel belted tires which will address the toughest application, in the segment.
“We are extremely positive about the global market and believe that the market has significant opportunity and room for a new brand in the value segment. Through our new brand Ascenso we are committed to offer a wide range of world-class tires that will help our customers unlock the true potential of their business.
“Our acquisition of a majority stake in European Agriculture Tyre Distributors is a first step in building a robust distribution in a highly competitive market of Europe.”