| London, UK | 31 May 2017 | Asia Samachar |
Harjeev Kandhari, a former Sikh banker who has built a formidable type business from his base in Dubai and London, has formed a joint venture with a major Chinese tyre manufacturer to grab a slice of the European market, including the high-performance passenger tyre segment.
The newly formed joint venture, Doublestar Europe, will be responsible for the sale, marketing and distribution of Doublestar commercial and passenger tyres in key European territories, including Germany, France, Italy, Spain and the United Kingdom.
The JV – bringing together China-based Qingdao Doublestar and the Zenises Group which is led by Harjeev as its CEO – has been described as a ‘solid step’ in Doublestar’s aspirations to strengthen its position in the global tyre industry, reports industry portal Commercial Tyre Business.
Harjeev has been named as the vice chairman of the new company.
The UK-headquartered Zenises UK, now operates 20 countries, with offices in Germany, Italy, Spain UAE, China and South Africa.
Doublestar, the sixth biggest of China tyre manufacturer, has recently established an ‘Industry 4.0’ production plant in Qingdao in an effort to establish itself among the technological leaders. It is also currently engaged in talks to acquire South Korean global manufacturer, Kumho Tyre, reports Tyrepress.com.
In the same report, Doublestar Europe stated: “We are very fortunate to have Mr Kandhari as a guiding hand on the Doublestar Europe board. We believe that he is one of the leading thinkers in the European tyre industry and with his experience both in China and in the tyre industry, this will take the joint venture to new heights in building Doublestar into one of the leading brands in Europe.”
On his new role, Harjeev said: “Doublestar is one of the leading tyre manufacturers in China. Having seen their new factory and met their new management I can confidently say that they will remain as one of the top five manufacturers in China when the inevitable consolidation comes in the Chinese tyre industry. I am proud to be associated with a company that shares our values both in terms of the provision of quality products and in the creation of positive social impact.”
Harjeev has previously worked with Merrill Lynch in investment banking and with New Media Spark in technology venture capital where he was said to be instrumental in setting up EO.com, one of the first platforms to do IPOs online. He currently lives between Dubai and London and sits on numerous boards in a non-executive capacity.
In June 2016, Harjeev was appointed a non-executive chairman of London-based venture capital firm Walpole Capital.
Harjeev is also Founder/Chairman of Zenises Foundation, to which he will be donating all his proceeds from Doublestar Europe, as reported in Tyrepress. Harjeev had retweeted yesterday (30 May 2017) the Typrepress report.
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