Montreal, Quebec — Trelleborg Wheel Systems has acquired Pneus ICM Inc, a Montreal-based industrial tire distributor and service provider.
Pneus ICM is the second largest industrial tire dealer in the Montreal area and a main service provider for eastern Canada, Trelleborg said.
The acquisition represents a new market area for Trelleborg.
"A local presence and global reach are key drivers in our business strategy," according to Paolo Pompei, president of Trelleborg Wheel Systems.
The acquisition, he added, provides TWS “an excellent opportunity” to increase its sales in the materials handling market and to strengthen replacement service business.
Pneus ICM has an annual sales of $2.5 million (€2.2 million).
The acquisition is part of Trelleborg's strategy to strengthen its positions in “attractive market segments”.
The acquisition extends Trelleborg's industrial tire distribution network to “a new important geographic market”, the company added.
Originally known as Southward Tire Industrial Division Ltd, the company became a separate legal entity under the ICM Tires Inc name in July 2007.