SA wheel and tyre group Tiger Wheels recorded an 18 per cent rise in revenue in the six months to December and could seek a listing on overseas stock markets.

SA wheel and tyre group Tiger Wheels recorded an 18 per cent rise in revenue in the six months to December and could seek a listing on overseas stock markets.

Tiger Wheels chief executive Eddie Keizan on Monday said the group’s immediate aim was to secure an equal stake in all its wheel manufacturing operations. The SA company has a German private investor as a partner in its ATS wheel manufacturing subsidiary but said it had 100 per cent ownership of its SA factory at Babelegi, near Pretoria, through wholly-owned subsidiary, TSW.

According to , Keizan said discussions were under way to bring both holdings to the same level, which could involve Tiger Wheels buying out its German partner in ATS, or offering it a stake in the SA plant.

Another option might involve the SA factory being sold to ATS, he said.

"We want our shareholdings to show an equal share in all plants."

Tiger Wheels had an 18 per cent boost in revenue in the six months to December with a rise from R1,2 billion to R1,4 billion and attributable earnings went up 65 per cent to R49,4 million.

Much of Tiger Wheels group turnover was generated outside SA and if the restructuring was to produce certain unspecified results, "moving offshore is a possibility", Keizan was quoted as saying.

Keizan explained that Tiger Wheels' growth would roll along in line with demand from the automotive sector. "Demand is growing and we hope to get our growth as part of that. Our next big step, but not for the next two years, will be in Asia," he said.

CARtoday.com has reported over the past year that many manufacturers are setting up facilities in countries such as China and there is tendency for the car companies’ supplier industries, such as the aluminium wheel manufacturers, to follow suit.

"BMW and Audi are there and we have taken a view that globalisation is a route to success," Keizan said.

Original article from Car