Sri Lankan tyre maker GRI has acquired Australian industrial tyre specialist Axis Tyres. The acquisition is focused on the forklift segment of Axis Industrial Tyres Pty Ltd and includes the four branches of Axis in Altona and Braeside in Melbourne, the Sydney branch and the branch in Adelaide. GRI is adding the four Axis branches to its own branch in Brisbane. Terms were not disclosed
“This venture has further expanded GRI’s global industrial tyre service network and will achieve our goal of increasing distribution channels in Australia and getting closer to our customers at a national level. GRI will now be able offer our high-performance material handling tyres to forklift companies and operators across Australia,” said Prabhash Subasinghe, Managing Director of GRI.
Axis Tyres, which is a subsidiary of Tradefaire International Pty Ltd., operates in many business segments including forklift tyres, truck tyres, agriculture tyres and off-the-road tyres. Its operations span over several locations in Australia.
In September GRI acquired NORTIRE OÜ in Northern Europe. The acquisition of the Nortire Group, headquartered in Estonia, with a branch in Latvia and two branches in Lithuania, will further expand the GRI’s global tyre service network, whilst attaining a significant foothold in the North European tyre market, said GRI.
GRI has offices in six countries and sales in over 50 countries around the world. It produces agriculture, construction and material handling tyres.