Trelleborg acquires Australian agricultural tyre business
Sales of Trelleborg agricultural tyres in the Australian original equipment and replacement markets will benefit from Trelleborg Wheel Systems’ acquisition of Armstrong Tyres, an agricultural segment service and distribution company. Trelleborg has signed an agreement to purchase the Australian firm for an undisclosed sum, and the transaction is expected to be finalised in the second quarter of 2015.
Armstrong Tyres specialises in tyres and complete wheels for original equipment manufacturers and tractor dealers, and holds a market-leading position in Australia. The acquired operation is headquartered in Bendigo, Victoria. Its sales last year amounted to approximately £4 million. Trelleborg describes its purchase of the company as a “bolt-on acquisition” that is part of the Swedish company’s “strategy to strengthen its positions in attractive market segments.”
“A local presence and global reach have become key drivers in our business strategy,” said Maurizio Vischi, president of Trelleborg Wheel Systems. “This acquisition provides us with an excellent opportunity to expand our range of agricultural and complete wheels in an attractive and major market. We also see good prospects to position our business for future expansion in the Australian aftermarket.”