ITALIAN tyre retreading equipment maker Italmatic Group has formed a joint venture (JV) with Tesco of America Inc., a US automotive and tyre industries firm. The new business entity, which will be headquartered in Oakland Park in Florida, will be named Tesco-Italmatic LLC.
The partnership will focus on the distribution of Italmatic products in the North, Central and South American regions.
Earlier in March, the two companies had signed an exclusive sales and support agreement that would cover the Americas, including the Caribbean.
Daniel Zeledon, owner of Tesco of America Inc. and Massimo Ghitturi, CEO of Italmatic Group both agree that the JV is expected to further enhance the presence of the two companies’ brands in these key regions.