Trelleborg Wheel Systems has agreed to acquire Armstrong Tyres, increasing its market presence in Australia.
Armstrong Tyres is an Australian service and distribution company of ag tires and specializes in tires and wheels for OEMs and tractor dealers. The company is headquartered in Bendigo, Victoria, and last year posted sales of approximately SEK 50 million (approximately $5.7 million USD).
“A local presence and global reach have become key drivers in our business strategy,” Maurizio Vischi, president of the Trelleborg Wheel Systems business area, said. “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.”
The transaction is expected to be completed by the Q2 2015.