Tarsus, the global B2B media group, has announced that it has acquired the TyreXpo series of events from Singapore-based organiser, SingEx. The acquisition adds a complementary brand to the automotive events in the Tarsus portfolio and gives the group access to an adjacent market.
The TyreXpo series was first launched in Singapore in 1997 and now provides one of the leading meeting places for the tyre industry, with many of the world’s most important suppliers to the industry participating. Favourable market conditions in recent years have led to key tyre manufacturers investing heavily in East and South Asia and the region now accounts for more than 50% of global tyre manufacturing. According to industry sources, Asia is the largest and fastest growing market for tyres globally and is forecast to grow at a CAGR of 8.75% through to 2023.
TyreXpo Asia is firmly established as a must-attend for the industry in the region and beyond. The biennial event is held at Singapore EXPO and the 2019 edition, held in March, attracted over 200 exhibitors across an exhibition area of 12,000sqm and saw 2,506 visitors in attendance. Key to the event’s ongoing success is the resilient demand for tyres irrespective of mobility trends and the future-proofed nature of the industry. Under Tarsus Group ownership, the event will have an increased focus on the TBR (truck & bus radial), OTR (Off the Road) and PCR (Passenger Car Radial) sectors coupled with a buyer programme to grow the number of international buyers at the event.
Tarsus Group CEO Douglas Emslie, highlighted the strategic fit of the acquisition: “The TyreXpo series acquisition aligns with our approach of investing in high growth opportunities and markets. This is an exciting vertical for Tarsus and complements our existing presence in automotive industry events.”
Increased global participation will be a key focus for the event going forward, said Tarsus Asia CEO, Nino Gruettke: “The Tarsus Asia team are excited to roll out the next phase of development for TyreXpo series – a key priority will be to bring the world’s leading buyers to Singapore and truly internationalise the event.”
The next edition of TyreXpo Asia is scheduled to take place in March 2021 at the Singapore EXPO.
For more information visit: http://www.tyrexposeries.com/tyrexpo-asia/showinfo/about-tyrexpo-asia/