Suppliers

Acquisition Will Enrich GRI's Footprint in Europe

Posted on September 10, 2019

Specialty tire manufacturer GRI has acquired Nortire Oü in Northern Europe. The Nortire Group, headquartered in Estonia, has a branch in Latvia and two branches in Lithuania.

The Nortire Group is a leading distributor of material handling, industrial and construction tires and wheels; rubber tracks; polyurethane wheels; and castors. Its operations span over Estonia, Latvia, Lithuania, Belarus and western Russia. The group also has proprietorship over four large warehouses across the region.

Güenter Fleck, consultant for GRI Europe (Global Rubber B.V), says the acquisition not only will enrich GRI’s material handing tire footprint in Europe, but also complement its distribution networks in Germany, France, Spain, Netherlands, Italy and the Baltic states, "thereby enhancing the level of accessibility to our tires, resulting in reduced lead time to customers and ensuring the continuous growth of GRI’s material handing tires across the region."

Prabhash Subasinghe, managing director GRI, says Nortire founder Tarmo Männasalu grew his businesses and revenues on a noteworthy pace annually, which GRI found attractive.

"This milestone will prove to strengthen and build upon the geographical outreach of GRI. The Nortire Group is, in fact, recognized as the market leader in the product offering of material handing tires. This competitive advantage will propel GRI’s success in the market.”

Männasalu says he has no doubt handing over the reins to GRI "will lead Nortire into prosperous growth and allow for the continued provision of premium tires with outstanding quality and assured performance to our customers."

Global Rubber Industries (Pvt) Ltd. (GRI) is a leading producer of construction, material handling and high performance agriculture tires in Sri Lanka. The company has offices in six countries and sales in more than 50 countries, including the United States.

Related Topics: acquisitions, GRI, Prabhash Subasinghe, specialty tires, Tarmo Männasalu

Comments ( 0 )
More Stories
Nexen has unveiled plans for its third vehicle giveaway for a U.S. veteran. The tire maker is seeking nominations through Dec. 3.
News Nexen Continues Veteran Support With Jeep Giveaway

Nexen Tire America Inc. is promoting a third vehicle giveaway with the Purple Heart Foundation, and this time the contest is open to all U.S. veterans.

News Goodyear Will Report Financials on Oct. 25

Goodyear Tire & Rubber Co. will report its third quarter results on Friday, Oct. 25, to be followed by an investor conference call at 9:30 a.m. ET.

Hamaton has expanded the valve stem range for its U-Pro Hybrid 2.0 TPMS sensor with the addition of the Gun Metal Grey Clamp-In valve.
Product Hamaton Introduces TPMS Valve in Gun Metal Grey

In response to the increasing popularity of gun metal grey alloys, Hamaton Inc. has released a TPMS valve for its U-Pro Hybrid 2.0 dual frequency, configurable and programmable sensor that matches the wheel’s distinctive finish.

Be the First to Know

Get the latest news and most popular articles from MTD delivered straight to your inbox. Stay on top of the tire industry and don't miss a thing!