Sri Lanka-based specialty tyre manufacturer Global Rubber Industries (GRI) has recently acquired northern European materials distributor Nortire Group. The acquisition of Nortire, headquartered in Estonia, will facilitate GRI’s expansion into the northern European tyre market and expand GRI’s global tyre service network as well.
Founded by Tarmo Männasalu in 2000, the Nortire Group is a renowned distributor of material handling equipment, industrial/construction tyres and wheels, rubber tracks, polyurethane wheels and castors. It has business operations in Estonia, Latvia, Lithuania, Belarus and western Russia, including proprietorship over four large warehouses across the region.
According to Männasalu: “GRI has proved to be passionate in taking on stimulating strategic advancements, coupled with a strong commitment to producing high-quality specialty tyres – it is a privilege to hand over the reins to this multinational company, and I have no doubt that this will lead Nortire into prosperous growth and allow for the continued provision of premium tyres with outstanding quality and assured performance to our customers.”
Meanwhile, GRI’s Managing Director, Prabhash Subasinghe, claims the acquisition “will prove to strengthen and build upon the geographical outreach of GRI” – the competitive advantage will propel GRI’s success in the market.
The GRI-Nortire acquisition is expected to complement GRI’s distribution networks in Germany, France, Spain, the Netherlands, Italy and the Baltic region, thereby enhancing the level of accessibility to its specialty tyres.