Magna Tyres to acquire Fennell Tyres International
According to executives, the acquisition is part of Magna Tyres’ goal is to increase sales to 600 million euros within five years (Photo: Magna Tyres)
Magna Tyres Group is acquiring Australian-based Fennell Tyres International. Fennell Tyres International is known for its competitively priced, quality OTR, mining and TBR tyre solutions. Financial details have not been disclosed. According to the company, “Magna Tyres recognizes the demand for high quality off the road tyres in Australia and the value of a long-term relationship with customers”. The firm’s goal is to strengthen its position worldwide.
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