India, Dec. 24 -- JK Tyre & Industries Ltd on Tuesday announced the successful completion of the merger of Cavendish Industries Ltd, its subsidiary, with the parent company.
Cavendish was acquired by JK Tyre in 2016 from Kesoram Industries Ltd. At the time of acquisition, Cavendish was operating at nearly 30 per cent of its manufacturing capacity, which included truck and bus radial tyres, truck and bus bias tyres, and two/three-wheeler tyres.
Following the acquisition, JK Tyre provided extensive managerial, financial and technical support, resulting in a swift turnaround. Through systematic streamlining of manufacturing processes, capacity utilisation at Cavendish improved sharply to around 95 per cent. Additionally, capacity at the Cave...