Trelleborg buys Maine Industrial Tire

Trelleborg Wheel Systems has agreed to to acquire Maine Industrial Tire, a US-based solid tyres manufacturer. Maine Industrial Tire’s headquarters is in Massachusetts, US, while its production facilities are located in Pennsylvania, U.S., and Xingtai (Hebei), China. Annual sales amount to approximately 600 million Swedish Krone and approximately 650 people are employed in the company. The acquisition is expected to be completed by the end of 2012.

According to the company, the bolt-on acquisition is part of Trelleborg’s continued strategy to strengthen its positions in attractive and profitable market segments. With Trelleborg already running a manufacturing operation in Xingtai, which focuses on agricultural products, there is also likely to be a strategic dimension to the purchase. The new facility in China is adjacent to the operation that Trelleborg acquired in the first quarter of 2011 from the Chinese subsidiary of Maine Industrial Tire. Therefore it is not surprising that the company say “synergies are expected to be generated on integration of the acquired company into Trelleborg’s structure.”

“The acquisition strengthens our position as a global leader and a strong local business partner, not least in the world’s two largest industrial tyre markets China and North America. The product range produced complements our existing offering within the industrial tyres segment, focused on solid tires used in warehousing, logistic operations and airports. The acquired company has a highly attractive portfolio of advanced products and favorable profitability performance,” said Maurizio Vischi, Business Area President, Trelleborg Wheel Systems.

In addition to solid tyres for vehicles such as forklifts, the acquired company also develops and produces solid specialty tyres for areas such as construction, underground mining and waste management.