Global Rubber Industries acquires Leffler Industrial Tires & Kentucky Industrial Tire

GRI recently acquired Leffler Industrial Tires & Kentucky Industrial Tire based in United States to expand its distribution network

United States: The renowned OTR tire maker, based in Sri Lanka, Global Rubber Industries (GRI), recently acquired Leffler Industrial Tire & Rubber Track, Inc., of the United States. The acquisition of both the companies, namely, Leffler Industrial Tire and Kentucky Industrial Tire, was comprehended with an objective of spreading GRI’s reach in the geographical area by expanding its distribution channel network as well as enrouting its way in the United States tire market. Moreover, the acquisition by the company would assist GRI to promote itself as a prominent supplier of specialty tires across the United States.

Leffler Industrial Tire, Indianapolis based company, specializes in manufacturing industrial forklift tires and offer its product across Illinois & Indiana, in the United States. Whereas, Kentucky Industrial Tire offers a similar line of products in Kentucky. Both the companies were founded founded by Mike Leffler and Sherri Leffler in March 2009 and January 2016, respectively.

As per the GRI, “The Lefflers have grown their businesses and revenues year-on-year at a noteworthy pace and to a level that attracted GRI. Their companies offer a wide portfolio of tyres for the material handling and construction industry. The core products are solid resilient and press on band tyres for forklifts, polyurethane tyres, construction tyres, skid steer tyres, OTR tyres and rubber tracks. Services offered include mobile onsite installation and poly fill solutions.”

The President of Leffler Industrial Tire and Kentucky Industrial Tire, Mike Leffler stated, “GRI has been a trusted and reliable supplier for many years with a strong commitment to high quality industrial tyres. It is a privilege to now be a part of this multinational company. This union allows us to continue providing premium tyres with outstanding service to our customers while expanding our footprint.”

Prabhash Subasinghe, the Managing Director (MD) of GRI added, “I am proud to announce the acquisition of the companies, which will strengthen the business and reach of GRI in the United States. Along with our long established office in Georgia, GRI will now be able to provide our customers in the US products and services at a level beyond their expectations.”

As per TechSci Research, Global Rubber Industries (GRI) has been evolving its presence in the domestic market and is now looking forward to expand its reach in the international market. The acquisition made by GRI would assist the company to increase its distribution network all over the United States. Hence, the company would able to establish its brand name over the period, in the USA.

According to a recent report published by TechSci Research, “United States Tire Market Forecast and Opportunities, 2021’’, demand for tires in the United States is forecast to grow at a CAGR of over 5%, in volume terms, during 2016-2021. The vehicle fleet of the country is dominated by passenger car segment, followed by light commercial vehicles, medium and heavy commercial vehicles, off-the-Road (OTR) vehicles and two-wheeler segment. As a result, the passenger car tire segment held the largest volume share in the country’s tire market in 2015, and its dominance is anticipated to continue during the forecast period as well. The report also portrays huge potential of tire market in Southeast and Midwest regions of the country. The vast demand for tires from these regions can mainly be imputed to the large automobile fleet size, high population density coupled with the rapid urbanization in the area.