Global Rubber Industries (GRI) has acquired industrial tire specialist Axis Tyres in Australia. The operation is focused on the forklift segment and includes four branches of Axis in Melbourne, Sydney and Adelaide, which will join the GRI branch in Brisbane.
The tire manufacturer in Sri Lanka said the purpose of the deal is to strengthen its presence in industrial tires and service in Australia.
“We were already established in Brisbane, offering superior tires and service in that state. With this acquisition GRI is now able to offer this service excellence also in Melbourne, Sydney and Adelaide,” said Mahesha Ranasoma, CEO of GRI.
Axis Tyres, a subsidiary of Tradefaire International, supplies forklift tires, truck tires, agriculture tires and off-the-road tires. According to GRI, the company intends to increase the level of service and the quality of the tires that Axis has been offering to its customers.
“This venture has further expanded GRI’s global industrial tire service network and will achieve our goal of increasing distribution channels in Australia and getting closer to our customers at a national level. GRI will now be able offer our high-performance material handling tires to forklift companies and operators across Australia,” said Prabhash Subasinghe, managing director of GRI.
The financial details of the acquisition were not disclosed.