Tesco, Italmatic form JV for Americas

OAKLAND PARK, Fla. (Sept. 16, 2013) — Tesco of America International Inc. has reworked its distribution agreement for the Americas with retreading equipment maker Italmatic S.r.l. into a joint venture, a move that strengthens the partners' abilities to support customers throughout the region.

The venture, Tesco-Italmatic L.L.C., will be headquartered in Oakland Park, where Tesco is based. The companies had signed an exclusive sales and support agreement in March covering the Americas, including the Caribbean.

"We are now partners and this only strengthens our abilities in service and support to our clients," a Tesco representative said. "It also gives the clients extremely competitive pricing from the partnership, as Italmatic is a manufacturer."

Tesco Owner Daniel Zeledon and Italmatic CEO Massimo Ghitturi said the joint venture further enhances the footprint in these key, strategic regions. There are many synergies between the two companies since Tesco is known for its service, quality of products offered and its technical support in all the Americas.

Italmatic produces a range of equipment for retreading OTR, truck and passenger tires and provides service and product knowledge to back it up.

Asked about the possibility of opening sales/service offices in Central or South America, Tesco said it plans to be "charging forward to build a service, support and sales network in all areas."

The partners did not disclose their share ownership in the joint venture or other relevant financial details.

Cassina de' Pecchi, Italy-based Italmatic was founded in 1966, initially focusing on buffers. Over the years it broadened its range of retreading equipment and added expertise in equipment for rubber rollers.

It added solid tires to its portfolio in 2000 and in 2011 acquired MGT, an Italian maker of equipment for retreading OTR and aircraft tires.