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
K&M Tire Inc.'s recent meeting in Columbus, Ohio, featured a large trade show. "Our customers are part of our extended family," K&M Tire CEO Ken Langhals told attendees.
News K&M Celebrates 50 Years, Announces More Support for Mr. Tire Members

Ken Langhals will be the first tell you that when he founded K&M Tire Inc. in 1970, he never imagined the company would ultimately develop into one of North America’s largest independent tire distributors, with 31 centers throughout 27 states.

John Healy is a managing director and research analyst with Cleveland, Ohio-based Northcoast Research Holdings LLC and author of MTD’s monthly Your Marketplace column.
Article Full Speed Ahead: Analyst John Healy Talks About 2019 and What 2020 Will Hold

Nobody can say that 2019 was a quiet year for the North American tire industry. And the new year is already shaping up to be equally action-packed as tire manufacturers, distributors and dealers continue to jockey for position in an increasingly unpredictable marketplace.

Article SEMA/AAPEX Shows Delivered the Goods -- New Tires, New Technologies, New Tools – and a New Tire Show?

The 2019 edition of Automotive Aftermarket Industry Week, which includes both the Specialty Equipment Market Association (SEMA) Show and Automotive Aftermarket Products Expo (AAPEX), is in the books.

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!