GRI acquires Protyre in the Baltics

GRI recently acquired specialty tyre company Protyre in the Baltics. GRI has previously bought Protyre in Estonia as well as Nortire in the region. Together they highlight GRI’s material handling, agriculture, and OEM growth strategy. According to Martynas Jankauskis, managing director, of GRI-owned Nortire, the synergy with GRI is poised to “increase its sales volumes by ten times in the Baltics”.

Protyre was established in 1991 and has been focused on specialty tyres and growing its business steadily since inception. By nurturing close relationships with trailer (forestry and agriculture) and tractor OEM producers, Protyre has been able to build a customer base that truly trusts them for high quality products and service. The acquisition by GRI has supported Protyre with a new 1100 square metre warehouse near Tallin, Estonia in which 6.5-metre-high racks can be installed for tyres and a new 100 square metre office. The new facility will also have tyre mounting presses for solid tyres as well as the full range of large and small specialty tyres.

“It is very difficult for a new player to enter this market segment, and through the acquisition of Protyre, GRI too has access to these lucrative sectors and has the potential to grow exponentially,” Martynas Jankauskis explained. Protyre provides tyres for trailers and specialize in the tyre and rim fitment service where they primarily supply for the OEM segment in Estonia and Finland. “With the acquisition by GRI Protyre will now be catering to both the OEM and replacement market throughout the Baltics region and support GRI with its current partners in Finland,” explained Dr Mahesha Ranasoma, CEO or GRI.

“The initial customer feedback for GRI tyres has been very positive and OEM producers are extremely happy,” said Martynas Jankauskis. “The high quality of tyres, and the fact that GRI has the capability to manufacture the required tyre types and sizes in its state-of-the-art facility in Sri Lanka, professionalism and reputation built in the Baltics will strengthen the Nortire and Protyre synergy where 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,” stated GRI MD Prabhash Subasinghe. GRI acquired Nortire in 2019 and secured its position in the Baltics which includes Estonia, Latvia, and Lithuania.

Founded in 2002 by Prabhash Subasinghe, GRI produces high-grade material handling solid tyres, radial agriculture tyres, and construction tyres built with “pure natural rubber in Sri Lanka”. GRI has operations in nine countries, and a business presence in more than 50 countries worldwide. Since 2018 GRI has been advancing in the rapid expansion of its specialty tire production plants and tire compound mixing facilities in Sri Lanka as well as its operations in key countries. GRI ensures its commitment to sustainability and environmental protection throughout its operations both locally and globally.