TRELLEBORG, Sweden—Trelleborg A.B. has agreed to buy Armstrong Tyres, an Australian distributor of agricultural tires, to help it boost its presence in Australia.
Financial terms were not disclosed. Bendingo, Victoria-based Armstrong Tyres generated sales last year of about $7.5 million, primarily with Continental-brand farm tires and its own Agritech-brand wheels, with 16 employees.
Prior to this, Armstrong Tyres was not listed among Trelleborg Wheels' “key dealers” in Australia.
Trelleborg called this a part of its strategy to strengthen its positions in attractive market segments.
Trelleborg Wheel operates in Australia through a subsidiary office, Trelleborg Wheel Systems Australia, in Melbourne, Victoria. It has regional sales/service offices in Sidney, New South Wales; Brisbane and Townsvile, Queensland; Adelaide, South Australia; Perth, Western Australia; and Botany, Sydney.
“A local presence and global reach have become key drivers in our business strategy,” said Maurizio Vischi, president of the Trelleborg Wheel Systems business area. “This acquisition provides us with an excellent opportunity to expand our range of agricultural and complete wheels in an attractive and major market. We also see good prospects to position our business for future expansion in the Australian aftermarket.”
Armstrong Tyres was founded in 1937 by Samuel Armstrong. The business operates three distribution warehouses.