BRISBANE, Australia—Global Rubber Industries Ltd. has acquired industrial tire specialist AXIS Industrial Tyres, a distributor focused on the forklift segment with four branches throughout Australia.
The deal will help GRI strengthen its presence in industrial ties and service in Australia, the Sri Lankan tire maker said. GRI also has its own distribution outlet in Brisbane.
Financial details were not disclosed.
"This venture has further expanded GRI's global industrial tire service network and will achieve our goal of increasing distribution channels in Australia and getting closer to our customers at a national level," GRI Managing Director Prabhash Subasinghe said.
Adding AXIS Industrial Tyres' branches Altona and Braeside, Melbourne, Sydney and Adelaide to its own outlet in Brisbane will create a nationwide network, GRI CEO Mahesha Ranasoma said.
AXIS Tyres, which is a subsidiary of Tradefaire International Pty. Ltd., was founded by James Saunders in 1992, and operates in many business segments including forklift tires, truck tires, agriculture tires and off-the-road tires.
GRI will elevate the level of service and the quality of tires that AXIS has been offering to its loyal customers across Australia, GRI said, along with working with other distribution and service partners to provide a "compelling offering" to all national accounts.