TVS Automobile Solutions (TVS ASL), which operates its business through MyTVS brand, has announced a joint venture with the US-based Myers Tire Supply International Inc., the biggest distributor of equipment, tools, accessories and consumables for tyres in the US. The newly-formed JV company will promote both the Myers range of products and TVS ASL’s tools & equipment business in India.
This new relationship highlights the core capabilities and shared strengths of each company. TVS ASL’s in-depth sales and service knowledge of equipment and repair services to automobile dealers in India will be enhanced by the global presence of Myers Tire Supply, which excels in providing tools and consumables for tyre repair and maintenance to independent tyre dealers, tyre service centres and tyre retreaders.
Announcing the joint venture, Mr. Sanjay Nigam, President & CEO, TVS Automobile Solutions, said: “This joint venture will give us the first mover advantage in the largely fragmented and unorganized after-market tyre repair and service business in India. Our tie-up with Myers will bring in the global best practices in the aftermarket tyre service business through its service equipment and consumables.”
He added: “Fuel and tyre maintenance are the two major expenses for fleet operators. That way the tyre industry provides enormous business opportunity for us. With this JV, TVS Automobile Solutions will become the only organized player to have expertise in all the sections of after-market automobile service industry.”
Said Mr. James Drohan, General Manager, Myers Tire Supply International Inc.: “Not only does this joint venture coincide with the geographic expansion growth platform for our Distribution Segment, but it also provides entry into the fast-growing Asian market.”
Myers Tire Supply provides complete solutions for tire repairs and maintenance services, including modern repair process for passenger car tyres, commercial vehicle tyres and off-road equipment/vehicle tyres. It has a successful business model across the US with more than 40 branches. The business model will be customized and implemented in India to suit the requirements of the Indian market and customers. The Myers expertise will also be shared through training of technicians in handling/repairing the new age tires and wheels.
Myers Tire Supply, along with TVS ASL, would look to make a mark for its business in India and other parts of Asia through this joint venture. Together, the companies will develop their global sourcing capabilities and operate through a localized branch network to meet customer demands with competitive quality and pricing.