GPX Completes Purchase of MITL
GPX International Tire Corporation (GPX), has purchased Maine Industrial Tire Limited (MITL) of Gorham, Maine. MITL is a leader in the design and manufacture of premium quality solid industrial tyres which are sold under the Maine and ITL brands. In addition, MITL produces and markets a line of solid tires for use on skid steers and loaders under the Brawler brand.
Robert Sherkin, chairman and co-CEO of GPX explains: “With the acquisition of MITL, GPX has significantly fortified its position in the Industrial Tire market. We have added world-class Industrial Tire Engineering and Production expertise to our team. To further increase MITL’s competitive stature, GPX will review all elements of the production and sales cycles as we are confident that GPX’s global sourcing and distribution channels offer opportunities for immediate positive results.”
Ken Hebert will assume the position of president for the MITL division. Mr Hebert states, “At this time, our plan is to continue marketing the Maine and ITL brands separately. Looking ahead, we will continue to make improvements to the depth and availability of our product line, especially as we begin to leverage the resources made available to us through the GPX organization”.
GPX employs over 1,000 people in three continents; North America, Europe and Asia. To produce its tyres, GPX uses a combination of owned and outsourced production facilities. GPX’s own production facilities are located in the US, Canada and Europe. To complement its own manufacturing facilities, GPX has developed a global network of best-in-class outsourced facilities contracted to produce its flagship brands; Galaxy, Primex, Constellation and Dynamo. GPX also markets Aeolus medium radial truck tires through an exclusive distribution agreement. With MITL, GPX’s flagship brands include ITL, Maine and Brawler.