Magna Tyres acquires Dutch retreader

WAALWIJK, Netherlands—Off-the-road tire specialist Magna Tyres Group has acquired OBO Tyres, a Dutch retreader that specializes in agricultural and OTR tires and related repair services.

Magna called the acquisition of Hardenberg, Netherlands-based OBO Tyres the "next step" in its global expansion plan, and one that provides Magna a "cost-effective" retreading option for its customers.

"We expect OBO Tyres to be an attractive add-on for existing Magna Tyres customers but also an opening to new markets," Magna Tyres CEO Michael de Ruijter said.

Financial terms of the deal were not disclosed, but Magna called OBO the largest retreader in the Netherlands. OBO Tyres will retain its name under Magna's ownership, the company said.

OBO—the name is derived from its original name, Overijsselse Banden Onderneming—was founded in 1959 in Beerzerveld, Holland. It moved in 2006 to Hardenberg and later added a second location, in Leipzig, Germany.

Besides retreading, OBO Tyres distributes Techking-brand OTR in Austria, France, Germany and Switzerland and also handles Magna and Magna's MTP associate brands.

Waalwijk-based Magna Tyres describes itself as a privately held manufacturer of OTR, industrial and truck tires, with 10 sales offices worldwide. It operates a 250,000-sq.-ft. warehouse in Waalwijk.

The company designs and engineers its tires in Netherlands, but final production is at plants in China and Taiwan using rubber compounded in Netherlands, Russia and the U.S., according to Magna.