The Netherlands-based Magna Tyres announced it acquired Polish-based Industra Ltd., marking another step in its global expansion plans. Financial details of the acquisition were not disclosed.
The acquisition documents the growth of Magna Tyres Group is on track to increase turnover to EUR 600 million in 3 to 5 years, says the company. Industra’s net turnover is almost EUR 10 million.
’’We’ve always been focused on the expansion of Magna Tyres Poland and our business in Western Europe as well. This collaboration strengthen our European footprint and gives us possibilities to increase and support the customer database in the Eastern part of Europe even more,’’ said Michael de Ruijter, CEO-President of Magna Tyres Group.’’
Industra has a very strong position in Poland as it is the biggest supplier of specialty tyres services, says Magna Tyres. The company represents three tyre segments: industrial tyres (from forklifts to port handling machines); tyres for earthmoving machinery; and the agricultural sector (tyres, wheels and tracks). In its 24 years of existence, Industra has achieved the position of first-choice partner for the largest end users of specialty tyres in Poland due the experienced staff, on-site services and the widest stock in specialty tyres.
With this acquisition, together with existing structures of Magna Tyres Poland Sp. z o.o., Magna Tyres Group is poisitioned to be the strongest player in the Industrial and OTR tyres markets in the region of Central and Eastern Europe, says the company. The expansion in this part of Europe supports business growth and meet the needs of the company’s diverse customer database. It also enables Magna Tyres to further expand into regions such as the Baltic Countries, Balkans and Eastern European countries.