Carlisle Acquires China’s Meiyan Tire Group
Posted on December 18, 2006
Carlisle Companies Inc. said it has signed a definitive agreement to acquire the assets of Meiyan Tire Group in Meizhou, Guangdong, China. This acquisition will become part of Carlisle Tire & Wheel Co., Carlisle's manufacturer of specialty tires and wheels. The acquisition is subject to local regulatory approvals and customary closing conditions and is expected to close before March 31, 2007.
"We are excited about this strategic addition to Carlisle's manufacturing capabilities in China,” said Richmond McKinnish, Carlisle's president and CEO. “This acquisition enables Carlisle Tire & Wheel to internalize production of their current lines of bias and steel-belted radial trailer tires. Additionally, it will provide enhanced manufacturing capabilities for larger tires for the agricultural and construction markets, a key growth platform for our Industrial Components segment."