ERJ staff report (TB)
Wakefield, Massachusetts -- Trelleborg Wheel Systems' recent acquisition of Maine Industrial Tire L.L.C.'s plant in Xingtai, China, did not include the solid tire production assets at that site, which Maine Tire will continue to operate under its own ownership.
Wakefield-based Maine Tire stressed in a separate release that Trelleborg purchased only the pneumatic tire manufacturing assets at the site, which operates as Hebei Starbright Tire Co. Ltd.
Maine Tire President and COO Troy Kline stressed that pneumatic tires â€œare not core to our long-term business strategyâ€ even though the company had continued to make them under third-party brands.
â€œThe sale of the pneumatic assets would allow for better alignment of our global resources,â€ Mr. Kline said. â€œMaine Tire will now have a singular focus on its core business-building world-class solid tire products for the conventional forklift, construction and specialty markets.â€
Maine Tire is in the process of winding down production at its Gorham, Maine, factory in advance of relocating the manufacturing capcity to a wheel plant in Red Lion, Pa., that's being refurbished to accommodate tire producion as well as to the plant in Xingtai.
Maine Tire expects that this transaction and subsequent investment into its facilities will result in a financially stronger and cost competitive company that will better serve its loyal customers.
From Tire Business (A Crain publication)