Extending on its material handling and agricultural range, GRI has acquired Baltics-based Protyre to continue to increase its influence in Eastern Europe, in news reported by aftermarketnews.
GRI Acquires Second Tyre Company
Having already acquired Nortire in Latvia, GRI has now acquired Protyre in Estonia. The strategic acquisition allows GRI to enhance its service offer to OEMs in the Baltic region, with an expected ten times increase in sales volume, according to Nortire’s Managing Director, Martynas Jankauskis.
Established in 1991, Protyre focuses on specialty tyres, with trailer and tractor OEMS in Estonia the repeat customers for the firm. As part of the acquisition agreement, Protyre now has a new 1100 square meter warehouse in Tallinn. Jankauskis argues that the lucrative sector is difficult to become a part of, due to the specialism involved. The acquisition will help GRI support and extend its offers with its partners in Finland.
“The initial customer feedback for GRI tires has been very positive and OEM producers are extremely happy,” said Jankauskis. “The high tyre quality and GRI being able to manufacture the required tyre types and sizes in its state-of-the-art facility in Sri Lanka, coupled with its professionalism and reputation, will strengthen the Nortire and Protyre synergy. The business will grow rapidly in the coming months.”
“The acquisition of Protyre is another significant step in GRI’s expansion plans in the Baltics and is a part of GRI’s overall strategy in terms of expanding into new markets,” added GRI’s Managing Director Prabhash Subasinghe.
Source: Aftermarketnews
CORRECTION:
The image in this story has been changed from a Protyre UK logo to reflect GRI Tires instead. We would like to underline that UK Based Protyre has not been purchased by GRI Tires and would like to apologise for any confusion this may have caused.
