KNOXVILLE, Tenn. (Dec. 2, 2011)—Chinese machinery maker Qingdao Mesnac Co. Ltd. has acquired tire equipment maker Wyko Tire Technology Inc. for an undisclosed sum.
The Wyko operation retains the Wyko brand and name. Previous owners in the company, Ian Smith and David Jones, will remain as directors of the Wyko business and will work collaboratively with Mesnac to identify opportunities for growth, product innovation and diversification, Wyko said.
Mesnac recently set up a European technical center from the remains of the Matador machinery operation I Slovak Republic and steadily has improved its technological position among Western tire makers as well as Chinese companies, Wyko said.