Sri Lankan tyre maker Global Rubber Industries (GRI) has acquired Hungary’s Atra Kecskemet, which supplies tyres & services for material handling, agriculture and construction industries. GRI says the acquisition is intended to strengthen its global footprint and its presence in Europe.
According to Mahesha Ranasoma, CEO of GRI, the company’s expansion across Europe is a key strategic thrust for GRI. He added, “We see immense potential to provide superior services in the continent and secure a significant market opportunity. GRI is already located in Germany, Spain, France, Netherlands, and the Baltics; and now we are in Hungary as well.”
Established 30 years ago, Atra Kecskemet has built a nationwide presence with eight locations in Hungary and 50 employees. Its customers include some of the largest forklift distributors in the country. GRI says Atra has captured more than 50% market share in both the material handling and construction tyre markets.
Giorgio Gramegna, Director of Europe at GRI, said, “The acquisition of Atra is a strategic move by GRI. This significantly strengthens our business in Hungary for all our key products. Hungary is also ideally located in Europe between Western and Eastern Europe. It brings us closer to all our customers in neighbouring countries and has the potential to be a noteworthy logistics and operational hub in the region.”
Tibor Somos, Founder/Managing Director of Atra, said, “We are delighted to be part of GRI’s global network. I founded Atra with the aim of providing an excellent service and high-quality tyres to all of Hungary, and I am happy to have expanded the business over the past 30 years to greatly achieve that ambition. We have built a solid business that has earned the respect of our customers, owing to the commitment and dedication of our staff, the quality-of-service, and products we offer. Under GRI’s new ownership as well as leadership, I am confident that Atra will scale to even greater heights.”
Prabhash Subasinghe, Managing Director of GRI, said, “Acquiring Atra was an easy choice, as it services all the categories of GRI specialty tyres, and it has maintained an impressive heritage of customer service, professionalism, and sustained business growth consistently increasing its market share. We are delighted to welcome Atra into the GRI family as we look forward to unlocking greater synergies in the Hungarian market.”