MUMBAI, India—Marangoni S.p.A. sees opportunity in the Indian tire rereading market. And now, with full ownership of a joint venture it established there in 2015, the Italian-based retread supplier feels it is better positioned to take full advantage of those emerging opportunities.
Marangoni Group June 29 said it has taken full ownership of Marangoni GRP Pvt. Ltd., a 50-50 joint venture it has established with GRP Ltd. In the company statement, Marangoni Group President Vittorio Marangoni said the joint venture had achieved key milestones, but that under Marangoni's full leadership the business will see deepened and accelerated growth in the truck/bus retread market.