Tiger Automotive Not Affected by TiWheel Complications

Wheel and tyre wholesaler/retailer Tiger Automotive, who operates in both the UK and South African markets, is reportedly not vulnerable to any possible claims made by creditors of Tiger Wheel. According to company CEO Keith Rivers, “When Tiger Automotive was unbundled from Tiger Wheel Limited in December last year, the separation was complete. As far as I am aware there were no cross guarantees.”

TiWheel shares were suspended from trading on July 11, and the company’s recent financial results have been disappointing. However Rivers states that Tiger Automotive is in good shape and looking forward to a slight increase in year-on-year earnings to end June. He added that two ‘constraints’ to Tiger Automotive had been resolved – the 16.5 per cent anti-dumping duty on Chinese tyres has been removed, and problems regarding deliveries to Yokohama South Africa from Japan have been almost totally overcome.