TRELLEBORG, Sweden—Trelleborg Wheel Systems S.p.A. has acquired Standard Tyres Group, a privately owned Brazil-based industrial tire manufacturer, to strengthen its presence in industrial tires in South America and reinforce its market position globally.
The acquired business is based in Lorena, Brazil, with one factory in Feira de Santana. It posted revenue of about $11.5 million in 2014 in part from sales to locally based units of global original equipment manufacturers of materials-handling vehicles.
Terms of the sale were not disclosed.
Trelleborg said this “bolt-on acquisition” is part of its strategy to strengthen its positions in attractive market segments. The company's strength is in solid forklift tires, but it also offers pneumatic tires for materials-handling, construction, mining and earthmoving.