GRI expanding European presence with acquisition of tire supplier

Colombo – Sri Lankan off-road tire manufacturer GRI is acquiring Atra Kecskemet, a Hungarian heavy tire retailer and aftermarket service supplier.

The acquisition is intended to strengthen GRI’s worldwide footprint and its presence in Europe, said the tire maker in a statement 17 July.

Operational for over 30 years, Kecskemet-based Atra serves the materials handling, agriculture and construction industries across Hungary and neighbouring states.

The retailer has eight branches across Hungary and employs 50 people, according to GRI's statement.

Furthermore, said GRI, it services major forklift distributors in the country and has an over 50% share of both the materials handling and construction tire markets.

The acquisition, according to GRI Europe director Giorgio Gramegna, is “a strategic move” for GRI.

Hungary, said Gramegna, is “ideally located” 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,” he added.

In addition to Hungary, GRI also has locations in Germany, Spain, France, The Netherlands, and the Baltics.

“Acquiring Atra was an easy choice, as it services all the categories of GRI speciality tires,” said Prabhash Subasinghe, managing director of GRI.

GRI has been steadily expanding its manufacturing capabilities in Sri Lanka over recent years.