Iranian tyre manufacturer, Yazd Tire has announced that it has finalized a deal to supply tyres to leading French car manufacturer, Renault, for its vehicles that are manufactured in Algeria.
As part of the deal, Yazd Tire will be exporting 50,000 tires which it will be making in its factory in central Iran. These tyres will be exported to Algeria and will be used by Renault for fitment on its cars that will be manufactured at the Renault factory in the northwestern port city of Oran. No further details of the deal were disclosed.
Mohammad Reza Ganji, chairman of Iran Tire Industry Association, said that Renault has agreed to help with the export of tyres from Yazd Tire. Ganji said that Renault has added Yazd Tire to its list of trusted suppliers.
Yazd Tire specializes in the production of tyres for passenger vehicles, heavy-duty trucks, bicycles, and motorcycles. The tyre manufacturer has an annual output of 3.5 million tires and is a key player in the Iranian tyre market with an estimated 10-12 percent share in the local market.
Yazd Tyre had previously finalized a deal with the Holland-based tyre manufacturer Apollo Vredestein B.V. to make tyres for the company as part of a license agreement.
Yazd Tire CEO Eskandar Sotoudeh said Yazd Tire has exported tyres worth 10 million U.S. dollars to countries in Africa, Central Asia and the Middle East during the past Iranian calendar year that ended on March 20, 2016.
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