Watts Tyres expands its U.S. operation with new acquisition
Watts Tyres Plc has purchased Diprima Marketing Services Inc.'s industrial tire business, based in Rossville, Ga.
The acquisition gives the firm a strategic position in both the northern and southern United States (Watts has an existing facility in Valley City, Ohio).
Watts has ambitious growth plans, according to CEO Jean-Paul Mindermann.
"We have established a strong partnership with Diprima over the years, and this acquisition gives both parties the opportunity to concentrate on their core businesses," he says.
"It will enable us to strengthen our position in the U.S. industrial tire market and continue to expand the excellent platform already developed by Diprima in the southern states. The acquisition will enable Diprima to focus on growing its passenger, light truck and medium radial truck tires business."
Watts will continue to service the existing Diprima industrial tire customer base from Rossville, Ga., through a warehouse leasing agreement.
As part of the deal, Gerald Early will join Watts Industrial Tyre Services LLC, the U.S. division of Watts Tyres Plc, as operations manager. Doug Pearson, who has been managing director of Watts Industrial Tyres for more than 20 years, will head up the U.S. business unit as president.