Mahansaria Tyres (MTP) announced the commencement of commercial production at its state-of-the-art greenfield off-highway tyre manufacturing facility in Panoli, at the Bharuch district of Gujarat.Set up with an investment exceeding US$ 100 million, the plant is spread across 127 acres in a Special Economic Zone. With a first phase capacity of 40,000 mt/annum, the plant will produce tyres to cater to the ever-growing demand for tyres in agricultural, industrial, construction and earthmoving applications.The plant was inaugurated virtually by the company Chairman Ashok Mahansaria, and Managing Director and CEO Yogesh Mahansaria in the presence of key members of the organisation.Speaking at the inauguration, Ashok Mahansaria appreciated the untiring efforts of all team members to successfully bring on stream the plant despite the challenges posed by the COVID pandemic.Commenting on the start of a new journey in the off-highway tyre segment, Yogesh Mahansaria said, “Our goal is to build a strong presence in the global off-highway tyre market. The company has a robust product offering in the pipeline starting from bias to high-end steel radial and all steel belted tyres which will address the toughest application, in the segment. We are extremely positive about the global market and believe that the market has significant opportunity and room for a new brand in the value segment. Through our new brand ‘ASCENSO’, we are committed to offer a wide range of world-class tyres that will help our customers unlock the true potential of their business. World is witnessing tough times but our brand mantra of ‘Never Stop Rising’ will help all our stakeholders in sailing through these times and rise successfully. Our acquisition of a majority stake in European Agriculture Tyre Distributors GmbH is a first step in building a robust distribution in a highly competitive market of Europe. We are also grateful to all our business partners globally who have shown their extreme confidence in our endeavour and partnering with us from the very beginning of this journey.”