Pioneer acquires controlling stake in Tredcor

Business Reporter
Transport and logistics company, Pioneer Corporation Africa Limited has acquired a controlling interest in Tredcor Zimbabwe which is one of the largest tyre manufacturers in the country.“The directors of Pioneer Corporation Africa Limited, in response to Cautionary statements released on March 20 2014 and August 7 2014 are excited to announce the acquisition of a controlling interest in Tredcor Zimbabwe.

“The company was an associate of the Group but the Group has now acquired a further 10 percent equity in the business from Goodyear and its affiliates thereby bringing it under our local control, “said the company in a statement. Pioneer said all regulatory approvals have been obtained and company directors strongly believe this will add another dimension to the current existing services within the group. The company is also looking at building and improving relationships with customers.