VERONA, Italy (June 20, 2008) — Italian off-the-road tire maker Mai Group has purchased the OTR-related assets of Shandong Jinyu Tyre Co. Ltd. in Shandong Province, China.
The deal—the terms of which weren't disclosed—gives Mai an operation in Dongying, China, with the capacity to produce 20,000 OTR tires a year, the company said. Mai changed the name of the firm to Mai (Shandong) Radial Tyre Co. Ltd.
The acquisition will enable Mai Group to accelerate its cross-platform radial strategy for OTR and high-speed crane tire applications, and develop its Asian business, according to Ian Thomas, director of sales and marketing for Mai.
Mai will make the Maxam brand at the Dongying factory.