June 03, 2014
Nokian Tyres buys Import Tire
Nokian Tyres North America, a member of Nokian Tyres Group, has acquired the tire distribution business from Import Tire Inc. in Glastonbury, Conn. Import Tire has a turnover of approximately $10 million.
The purchase includes Import Tire’s warehouse containing 50,000 tires, its customer base as well as machinery and equipment.
“New England is an important winter tire market for Nokian Tyres, and with this deal we are able to improve our service level substantially and get closer to our customers,” says Tommi Heinonen, general manager of Nokian Tyres North America.
“Our partnership with Import Tire goes back over 20 years. Now the time was right for both companies to take the next step and transfer the business under Nokian Tyres’ brand. We will cherish the relationship with the current customers and develop the business further together with them,” Heinonen says.
Nokian Tyres’ North American operations are headquartered in Colchester, Vt. It has yearly sales of approximately $150 million.