Triangle buys 10% share of TYM International

Triangle and TYM International have jointly announced the Chinese tyre manufacturer’s purchase of a 10 per cent share of its UK distributor’s business.

TYM International general manager, Steve Eke and Triangle executive president of global business and the company’s Market Development Center, Lin Bin exchanged documents during the Triangle Group’s 2013 Global Business Summit at the Pudong Shangri-La Hotel, Shanghai on 18 May.

The purchase is currently subject to ratification by the Commerce Department of the Chinese Government, though both parties are confident that the deal will proceed smoothly. This year marks the tenth anniversary of TYM’s distribution of Triangle passenger car, truck and bus, and off-the-road products and Eke told Tyres & Accessories/Tyrepress.com that he was very pleased to have converted “the customer-supplier relationship into a partner relationship.”