TVS Automobile Solutions Ltd (TVS ASL), a subsidiary of TVS & Sons, has signed a joint venture (JV) with US-based Myers Tires Supply International Inc. to promote each other's products in various Asian markets.

The two companies said in a statement that the JV would look to make a mark for their business in India as well as other markets of Asia. To begin with, however, the JV will focus on after-sales tyre repair & service business in India only.

TVS ASL will own 65 per cent stake in the JV, while the American partner will own the remaining 35 per cent stake.

Sanjay Nigam, president & chief executive of TVS ASL, said, "This joint venture will give us the first mover advantage in the largely fragmented and unorganised after-market tyre repair and service business in India."

Mr. Nigam added that the JV would make them the only organised player to have expertise in every area of after-sales automobile service industry.

Ohio-based Myers Tire Supply International Inc is one of the biggest distributors of equipment, tools and accessories for tyres in the United States, with nearly fifty branches across the country.