Sun Tyre acquires Starco’s plant in Sri Lanka
Sun Tyre & Wheel Systems, part of the US$8 billion TVS Group of India, has acquired Starco Group’s tyre plant in Sri Lanka. With this acquisition, the overall capacity of the group in Sri Lanka and India increases by 40 percent. Starco Lanka was set up in 2011 to produce solid industrial tyres. Denmark-based Starco was acquired by Kenda in 2017 and operates factories in the UK, Croatia and China as well as eight sales and distribution centres across Europe.
Chennai-based SUN-TWS will take over the Starco Lanka operation, including the facilities, equipment and employees. SUN-TWS will continue to produce tyres for Starco, which is a subsidiary of Taiwan’s Kenda Rubber Industrial, with brands such as Tusker, Unicorn, Gecko and Makhna ranges.
“We see great potential to develop a partnership with SUN-TWS, immediately for our industrial segment, but also for other segments. We will maintain sales and distribution of our solid tyre ranges as the market knows it today. I would like to thank our Sri Lankan employees for all their hard work, and look forward to maintaining our strong relationship in the future,” said Richard Todd, CEO at Starco.
SUN-TWS produces off-the-road highway tyres, wheels and assemblies for materials handling, construction & mining, heavy duty trailers, airports and seaports.
“the key to the continued success of SUN-TWS is its unique business model, a passion for reliability and consistency, unrivalled customer service and an enduring loyalty to its clients; making SUN-TWS the preferred partner for forklift and tyre distributors around the globe,” said Joseph Fernando, SUN-TWS President.