JK Tyre successfully completes merger of subsidiary Cavendish Industries Ltd.

JK Tyre & Industries Ltd., a leading tyre manufacturer in India, has announced the successful completion of the merger of its subsidiary Cavendish Industries Ltd. Cavendish was acquired by JK Tyre in 2016 from Kesoram Industries Ltd. and primarily had manufacturing capacity for truck/bus radial, truck/bus bias, and 2/3-wheeler tyres. Post acquisition, JK Tyre provided comprehensive support leading to a turnaround and capacity utilization of 95%. The merger is expected to unlock value through enhanced operational synergies, economies of scale, a stronger and bigger diversified product portfolio, and enhanced reach across a combined distribution network. This merger marks JK Tyre's third major turnaround, following the transformations of Vikrant tyres and JK Tornel Mexico, and two other Greenfield plants.