CHARLOTTE, N.C. (April 10) — Carlisle Companies Inc. has completed its acquisition of Meixian Tengfei Tyre Co. Ltd., a Guangdong, China-based light truck and industrial tire maker also known as Meiyan Tire Group.
The purchase price was about $19.6 million, Carlisle said in its 10K filing with the Securities and Exchange Commission.
Earlier Carlisle said the addition of the Chinese company would enable it to "internalize" production of bias-ply and steel-belted radial trailer tires and provide "enhanced manufacturing capabilities" for larger tires for the agricultural and construction markets.
Meixian Tengfei will become part of Charlotte-based Carlisle Tire & Wheel Co., which already operates one factory in China, in Shenzen in Buji Province. The Meiyan operation also could become a "key growth platform" for the firm´s industrial components segment, Carlisle said.
Carlisle did not comment on the size of Meixian Tengfei.