Gloucestershire based Watts Tyres has entered into a joint venture agreement with Bulgarian rim and wheel manufacturer Balkancar Zarya. The two firms have established the joint venture company “Watts Zarya Limited,” which will concentrate on providing industrial wheel and tyre products to the materials handling OEM market via a just-in-time delivery system.

According to Jean-Paul Mindermann, chief executive for Watts Tyres Plc, “the new joint venture is a cornerstone of our strategy to be the leading wheel and tyre provider to the materials handling industry.” He added “Balkancar Zarya is an excellent partner with high quality wheels to complement our tyres and existing wheel business. With Bulgaria recently joining the EU, the timing and location is perfect to offer OEM’s the high quality and competitive solution that they are searching for.“