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May 12, 2015 02:00 AM

Marangoni buys stake in S. African tread rubber firm

Tire Business Report
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    ROVERETO, Italy—Marangoni Retreading Systems has acquired a 25 percent stake in Leader Rubber Co. S.A. Pty. Ltd. of Johannesburg, bidding to strengthen its Ringtread System presence throughout southern Africa.

    Leader Rubber, a tread rubber producer and distributor under the Leader Tread brand, has been the exclusive distributor of Marangoni's Ringtread System to the South African market for more than six years.

    Leader Rubber produces and sells precured tread strips, OTR uncured rubber and retreading supplies and machinery, holding a leading market share in sub-Saharan Africa, Marangoni said.

    Financial details of Marangoni's engagement were not disclosed.

    The partnership calls for Marangoni to invest in Leader Rubber in order to strengthen Leader's ability to build Ringtread business with local retreaders and to expand exports.

    Marangoni said the growing South African market for new and retreaded truck tires—currently at about 2 million units—and its proximity and access to growing markets in the Gulf region make South Africa an ideal location for expansion.

    Family-run Leader Rubber has been in business for nearly 50 years. Its annual sales were not disclosed.

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