New Delhi, June 23

JK Tyres said that it would start producing company branded truck tyres from the facility of its recently acquired Mexican company Tornel. The company would continue to produce both the brands — JK Tyre and Tornel — for the markets in North and South America.

“We have built a certain presence of our brands in these markets. We plan to grow both the brands,” said Mr Raghupati Singhania, Managing Director, JK Tyres.

JK Tyres completed 100 per cent acquisition of Tornel, which was announced in April this year.

Mr Singhania also indicated revising its tyre prices by August. The hike would be over and above the 2.5 per cent done a few days ago and a similar one that was implemented in January too.

“The input costs are increasing and it is a real challenge for us as oil, natural rubber and power prices put pressure on our margins. We do not have any option but to increase tyre prices,” Mr Singhania said at a media interaction. Senior company officials say that the prices would go up to 7-8 per cent.

Taken from Business Line

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