Receiving the award, Dr. Singhania said, “I am honored with the recognition that Her Excellency Ms. Melba Pría has conferred upon me. It has been a privilege to have played a role in creating interest among Indian businesses in investing in Mexico. I have fond memories of my first conversation about Tornel with then President of Mexico, Mr. Felipe Calderon, and the rest, as they say, is history. The Government of Mexico has indeed given boost to business by welcoming foreign investment with open arms. It is a reflection of the Mexican Government’s helpful attitude towards industry, something that is worth looking up to for other countries too.”
In 2008, JK Tyre & Industries Ltd expanded its robust manufacturing operations by acquiring Tornel having three production facilities in Azcapotzalco, Tultitlan and Hidalgo. Under Dr. Singhania’s strategic leadership, the company turned around the facility in the very first year by improving efficiencies and increasing market share across product segments. Over the years, production capacity has been expanded, and Tornel’s global footprint enhanced in North America and the Latin America markets.
The company more recently implemented the first-ever labour restructuring programme in Mexico, at JK Tornel by rightsizing workforce. This was made possible due to tremendous help received from the Government of Mexico, particularly the Labour Ministry.