According to Yahoo News, the Trelleborg Group recently signed an agreement with Armstrong Tyres, an Australian agricultural tire service and distribution company, to start the acquisition of the latter.
Trelleborg's acquisition of the company through its Trelleborg Wheel Systems is expected to close in the second quarter of this year.
Armstrong Tyres is headquartered in Victoria, Australia. Last year, the company’s operating income was approximately $5.8 million. Trelleborg said that this acquisition will help the group strengthen its tire business in the Canadian post market.
The Trelleborg Group owns coating systems, industrial solutions, sealing solutions, and wheel systems. Its annual operating revenue is approximately 22 billion kronor (US$2.545 billion).
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