GRI acquires Australia’s AXIS Tyres

Thursday, 12 December 2019 03:22 - - {{hitsCtrl.values.hits}}

GRI, a leading producer of specialty tyres in Sri Lanka, has acquired industrial tyre specialist AXIS Tyres in Australia.

The acquisition is focused on the forklift segment of AXIS Industrial Tyres Ltd. in Australia. It includes the four branches of AXIS in Altona and Braeside in Melbourne, the Sydney branch and the branch in Adelaide. GRI adds these four AXIS branches to its own branch in Brisbane, thereby strengthening its presence in the industrial tyres and service segment in Australia and establishing a national footprint.

“This venture has further expanded GRI’s global industrial tyre service network and will achieve our goal of increasing distribution channels in Australia and getting closer to our customers at a national level. GRI will now be able to offer our high-performance material handling tyres to forklift companies and operators across Australia,” said GRI Managing Director Prabhash Subasinghe.

AXIS Tyres, which is a subsidiary of Tradefaire International Ltd, was founded by James Saunders in 1992, and operates in many business segments including forklift tyres, truck tyres, agriculture tyres and off-road tyres. Its operations are spread over several locations in Australia.

“With a strong growth strategy at our core in all the segments that we operate in, GRI acquired AXIS Tyres to strengthen our reach in Australia. We were already established in Brisbane, offering superior tyres and service in that state. With this acquisition, GRI is now able to offer this service excellence also in Melbourne, Sydney and Adelaide,” said GRI CEO Dr. Mahesha Ranasoma.

GRI will elevate the level of service and the quality of tyres that AXIS has been offering its loyal customers across Australia. GRI will also work with other distribution and service partners to provide a compelling offering to all national accounts.

GRI continues to grow not only in the material handling tyre segment but also with agriculture tyres and construction tyres. Having built a strong reputation in material handling tires since 2002, GRI embarked on producing a compelling range of agriculture and construction tyres in Sri Lanka. GRI built an advanced factory, with some of the best tyre building machines, and started production in April 2018. In just over 18 months, GRI has launched over 200 new products from its advanced specialty tyre factory.

GRI is a leading producer of specialty tyres from Sri Lanka with offices in nine countries and sales in over 50 countries around the world. GRI produces high-performance agriculture, construction and material handling tyres.