Ceat, AK Khan Form Tyre JV


News: Indian tyre manufacturer Ceat has entered into a joint venture (JV) with Bangladesh-based firm AK Khan and Co to begin production of tyres in Bangladesh. Ceat will have a 70% share in t he JV, Ceat AK Khan Bangladesh , with AK Khan possessing the remainder. The JV, which will manufacture cross-ply truck, light commercial vehicle and motorcycle tyres for the domestic market, has been set up with an initial investment of US$67mn. The company will have a 110 tonne per day capacity on starting production and will create about 1,000 new jobs.

This article is tagged to:
Sector: Autos
Geography: Bangladesh

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