Trelleborg has, through its business area Trelleborg Wheel Systems, finalised the acquisition of Standard Tyres Group, a Brazil-based privately owned industrial tyre manufacturer.
The company is the market leader in industrial tyres in Brazil and the main supplier to locally based OEMs of materials handling vehicles.
The acquired business has its head office in Lorena and its manufacturing facility is located in Feira de Santana. Annual sales amounted to around SEK100m (US$11.7m) in 2014.
“Brazil has the largest materials handling vehicles market in South America, with all major OEMs represented in the country,” said Trelleborg Wheel Systems business area, president, Maurizio Vischi.
“The acquisition not only provides Trelleborg with access to the OEM market in the region, but it also strengthens Trelleborg as a global supplier of solid tyres to major, global OEMs.
“In addition, the acquisition will facilitate the expansion of sales into the rest of South America.”