GRI on expansion trail with Australian acquisition

Colombo, Sri Lanka – Global Rubber Industries (GRI) has strengthened its reach in Australia with the acquisition of Axis Industrial Tyres, a distributor particularly focused on forklift tires.

The purchase will increase GRI's industrial tires portfolio and includes four Axis Tyres branches in Altona and Braeside in Melbourne, the Sydney branch and a branch in Adelaide, said the Sri Lankan speciality tires manufacture 9 Dec.

Already running a unit in Brisbane, GRI will add the four branches to its distribution network to reinforce its position in the country.

“GRI will now be able offer our high-performance material handling tires to forklift companies and operators across Australia,” said Prabhash Subasinghe, managing director of GRI.

A subsidiary of Tradefaire International, Axis Tyres was founded by James Saunders in 1992 and operates in various segments including forklift tires, truck tires, agriculture tires and off-the-road tires across Australia.

GRI said it would “elevate” the service and the quality of tires offered by Axis and would work with other distribution and service partners “to provide a compelling offering to all national accounts.”

GRI has been producing material handling tires since 2002 and has stepped up its distribution activities in recent months.

In September, the GRI announced the acquisition of Estonian distributor of heavy tires, rubber tracks and wheels, Nortire Oü, which it said would significantly expand its global tire service network and strengthen its foothold in northern European.

GRI also manufactures agriculture and construction tires in a production facility opened in Sri Lanka in April 2018.