ERJ staff report (BC)
Trelleborg, Sweden - Trelleborg A.B. has agreed to buy Maine Industrial Tire L.L.C., the Wakefield, Massachusetts-based solid tire maker, for an as-yet undisclosed price.
Trelleborg said it expects the deal, to be executed by its Trelleborg Wheels Systems S.p.A. unit, to be completed before year-end.
Maine Industrial Tire produces solid tires for a variety of vehicles, especially for forklifts, generating annual sales of about $92 million with 650 employees. The company operates plants in Red Lion, Pennsylvania and Xingtai, China.
Maine Tire develops and produces solid specialty tires for areas such as construction, underground mining and waste management. Its brands are Brawler, Maine Tire and MITL.
Trelleborg said it expects the deal will generate undisclosed synergies.
The acquisition in effect reunifies the companies' plants in China. In early 2011 Trelleborg acquired the pneumatic tire production assets of Maine Tire's Hebei Starbright Tire Co. Maine Tire retained control of the solid tire assets at that site.
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