20 December 2021 06:21 am Views - 290
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Dr. Mahesha Ranasoma
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GRI recently acquired specialty tyre company Protyre in the Baltics.
With the acquisition of Protyre in Estonia, and together with its previous acquisition of Nortire, GRI has now strengthened its position to service material handling, agriculture, and OEM customers throughout the Balics region.
Through this synergy GRI is now poised to increase its sales volumes by ten times in the Baltics said, Martynas Jankauskis, Managing Director, Nortire.
Protyre was established in 1991 and has been focused on specialty tires and growing its business steadily since inception. By nurturing close relationships with trailer (forestry & 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 sq.mt. warehouse near Tallin, Estonia in which 6.5-metre high racks can be installed for tyres and a new 100 sqmt office.
The new facility will also have tyre-mounting presses for solid tires 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” Jankauskis explained.
Protyre provides tyres for trailers and specialises 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,” said GRI CEO Dr. Mahesha Ranasoma. “The initial customer feedback for GRI tyres has been very positive and OEM producers are extremely happy,” said 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,” said GRI Managing Director Prabhash Subasinghe.
GRI acquired Nortire in 2019 and secured its position in the Baltics, which includes Estonia, Latvia, and Lithuania.