Singhania family-owned JK Tyre wants to go acquisition hunting again after turnaround wins
New Delhi, Aug. 24 -- Buoyed by the turnaround of three acquisitions of struggling firms over the past three decades, Raghupati Singhania-led JK Tyre & Industries Ltd wants to look for acquisitions again as it prepares to invest Rs.6,000 crore over the next three years to expand capacities across the truck, bus and passenger vehicle segments.
Anshuman Singhania, nephew of chairman Raghupati Singhania and managing director of JK Tyre, told Mint that the company's experience of turning around the erstwhile BK Birla group tyre business under Cavendish Industries, Tornel Mexico, which gave it two plants, and Karnataka government-owned Vikrant Tyres in Mysore has made it more confident about pursuing inorganic growth.
"We are not averse to i...
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