06 May Marangoni and Onyx executed the transaction related to the sale of the solid tyres business
Rovereto (IT) – Marangoni Group and Onyx Group perfected the Agreement for manufacturing and distribution of solid tyres.
The Onyx Group has purchased from Marangoni S.p.A. 100% of the shares of the following companies operating in the solid tyres business:
– Marangoni Industrie Manutention, a trading company based in France;
– Wenzel Industrie GmbH, a trading company based in Germany;
– Marangoni Industrial Tyres S.r.l., a commercial company based in Italy;
– Marangoni Industrial Tire Lanka, a company based in Sri Lanka.
The parties signed the Off-Take Agreement whereby Marangoni S.p.A. will continue to manufacture in its plant in Rovereto the current range of solid tyres to be sold to Onyx.
The Marangoni brand has been licensed to Onyx Group limited to the manufacturing and distribution of solid tyres products.
Onyx Group acquired from Marangoni the product trademarks “Jumbo”, “Forza”, “Eltor” and “Quickmont”.