GRI acquires Australia’s Axis Tyres
Sri Lanka’s Global Rubber Industries (GRI Tires) has acquired Australian tyre supplier Tradefaire International’s industrial tyre business, Axis Tyres Pty Ltd. The acquisition includes Axis locations in Melbourne (Altona and Braeside), Sydney and Adelaide. Together with GRI’s existing branch in Brisbane, the company now operates five sites in Australia.
“This venture has further expanded GRI’s global industrial tyre service network and will achieve our goal of increasing distribution channels in Australia and getting closer to our customers at a national level,” says Prabhash Subasinghe, GRI managing director. “GRI will now be able to offer our high-performance material handling tyres to forklift companies and operators across Australia.”
Axis Tyres was founded in 1992 and operates in many business segments, including forklift truck, agricultural and off-the-road tyres. The acquisition particularly focuses on the forklift segment. “With a strong growth strategy at our core in all the segments that we operate in, GRI acquired Axis Tyres to strengthen our reach in Australia,” comments Dr Mahesha Ranasoma, chief executive officer of GRI. “We were already established in Brisbane, offering superior tyres and service in that state. With this acquisition, GRI is now able to offer this service excellence also in Melbourne, Sydney and Adelaide.”
GRI will also continue to work with other distribution and service partners within Australia.