EATD becomes Ascenso Tyres CE GmbH
As of 1 February 2023, EATD GmbH, a subsidiary of Mahansaria Tyres Private Limited (MTPL), has been trading as Ascenso Tyres CE GmbH, with CE standing for Central Europe.
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Mahansaria Tyres Private Limited (MTPL) completes acquisition of EATD
Mahansaria Tyres Private Ltd (MTPL) has completed the previously announced acquisition of a majority stake in European Agriculture Tyre Distributor (EATD). As a result, EATD has relocated its operations from Strijen, The Netherlands, to Wallenhorst in Germany.
Mahansaria Tyres comments on EATD acquisition
Commenting on its agreement in principle to buy a majority stake in European Agriculture Tyre Distributor (EATD), Mahansaria Tyres Private Limited (MTPL) states that it intends to build a global, market leading off-highway tyre business. MTPL describes the acquisition as its first step towards building its distribution network in Europe and developing EATD into “a leading” European distributor. EATD has also announced that it will distribute MTPL tyres in Germany, Austria, Switzerland, Belgium, Netherlands, Czech Republic, Slovakia and Poland, along with continuing to act as a distributor for Tianli tyres.
EATD to distribute Mahansaria off-highway tyres in 8 European markets
EATD recently disclosed plans to bring a new investor on board, and when we spotted Yogesh Mahansaria visiting the distributor’s stand at Agritechnica 2019 the list of potential investor candidates suddenly became a whole lot shorter. Mahansaria is indeed the new investor; EATD confirms that Mahansaria Tyres Private Limited (MTPL) has reached an in-principle agreement to acquire a major stake in the company.
Tianli distributor EATD to sign deal with new investor at Agritechnica
A new investor is coming on board at EATD B.V. The agricultural tyre distributor won’t disclose the identity of this new investor until a letter of intent is signed at next week’s Agritechnica show in Germany. EATD nevertheless shares its anticipation that the new investor partnership, agreed upon following extensive negotiations, will lead to a “clear course of growth for the company and the Tianli brand”.
