Trelleborg buys ag tire business in Australia
The Trelleborg Wheel Systems division of Trelleborg AB has signed an agreement to acquire Armstrong Tyres, an Australian service and distribution company of agricultural tires.
Trelleborg says the business specializes in tires and complete wheels for original equipment manufacturers (OEMs) and tractor dealers, and holds a market-leading position in Australia. The acquisition increases Trelleborg’s presence in the Australian market and strengthens the base for the sale of tires to the aftermarket.
The acquired operation has its head office in Bendigo, Victoria, Australia. Trelleborg says the "bolt-on" acquisition is part of a strategy to strengthen its positions in attractive market segments.
“A local presence and global reach have become key drivers in our business strategy. This acquisition provides us with an excellent opportunity to expand our range of agricultural and complete wheels in an attractive and major market. We also see good prospects to position our business for future expansion in the Australian aftermarket,” says Maurizio Vischi, president of the Trelleborg Wheel Systems business area.
The transaction is expected to be finalized in the second quarter of 2015.
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