Magna Tyres Group to Acquire Polish Tyre Dealer Industra
Magna Tyres Group, known as the 2nd-tier OTR tyre supplier, acquires the Australian based company Fennell Tyres International. Financial details were not disclosed.
Industra Ltd. has a very strong position in Poland as it is the biggest supplier of specialty tyres services. the company works with three product categories: 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 appears to be the strongest player on the market of Industrial and OTR tyres in the region of Central and Eastern Europe. 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.
Another additional advantage of this acquisition is the vision of both companies to support customers with full-service tyre solutions. The local service of the two companies in Poland enables Magna Tyres to meet the needs of its current and potential customer base.
As of now, Magna Tyres has the largest fleet of specialised equipment, including 5 mobile presses, 2 giant stationary presses for mounting heavy solid tires up to 33″ and 7 mobile service trucks for replacing large tires in construction machinery.
The acquisition shows that the growth of Magna Tyres Group is on track to increase turnover to EUR 600 million in 3-5 years. 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, in a statement.
Remigiusz Bęben, CEO of Industra said, ’’ I know Michael de Ruijter and the General Manager from Magna Tyres Poland, Marcin Kochaniak, for years. We look at the market in a very similar way. I’m sure that working as one team will allow us to provide our clients better service and better choice of products. We will be able to use the experience of Magna Tyres in Poland and in the rest of the world, and Magna Tyres will be able to learn from us how to work with end-users of agricultural, industrial and TBR tyres. I think our multichannel sales strategy in Poland will be an inspiration and a role model for other markets in Europe and the rest of the world.’’
Marcin Kochaniak, CEO of Magna Tyres Poland also adds, “I am very happy that this transaction is finalised. Looking for strategic partners for a long time, knowing the nature of the market in our part of Europe, the market habits and people operating on it, I believe that the acquisition of Industra, with all its experience and the team, will turn out to be a bull’s eye.”
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