Colombo – Global Rubber Industries (GRI) has recently acquired Estonian distributor of heavy tires, rubber tracks and wheels, Nortire Oü, the company announced in a 10 Sept release.
The Sri Lankan manufacturer of agriculture, construction and other speciality tires, said the purchase would further expand its global tire service network and strengthen its foothold in northern European tire market “significantly”.
“GRI will soon deliver to the north European tire market, its wide range of speciality tires, via the Nortire Group,” said Mahesha Ranasoma, CEO GRI, commenting on the acquisition.
Founded by Tarmo Männasalu in 2000, Nortire distributes material handling, industrial and construction tires & wheels as well as polyurethane wheels and castors, in Estonia, Latvia, Lithuania, Belarus and Western Russia.
The company has a branch in Latvia, two branches in Lithuania as well as four “large warehouses” across the region.
“This milestone will prove to strengthen and build upon the geographical outreach of GRI,” said Prabhash Subasinghe, managing director GRI, adding that Nortire was recognised as a “market leader” in the region.
The acquisition, according to GRI, will complement the company’s distribution networks in Germany, France, Spain, Netherlands, Italy and Baltic.