Italian off-road tyre retreading specialist Marangoni has acquired its partner GRP’s 50% stake in their Indian joint venture company Marangoni GRP.
The acquisition was made through Marangoni's wholly-owned South Africa-based subsidiary Leader Rubber Company.
The JV company, incorporated in late 2015, operates in India’s commercial tyre retreading sector. With this acquisition, Marangoni says it is embarking on its solo venture in India, a fast-emerging key market in the retreading sector.