From Tire Review
Trelleborg, through its Trelleborg Wheel Systems business, has signed an agreement and finalized the acquisition of privately owned Pneus ICM Inc. — a specialized industrial tire service provider and distributor in Montreal, Quebec, Canada.
Pneus ICM is the second-largest industrial tire dealer in the Montreal area and a main service provider for Eastern Canada, Trelleborg says. With annual sales of approximately $3.39 million Canadian dollars ($2.54 million U.S.), this bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments. According to the company, it enlarges Trelleborg’s industrial tire distribution network to a new geographic market.
“A local presence and global reach are key drivers in our business strategy. This acquisition provides us with an excellent opportunity to increase our sales in the materials handling market and to strengthen our replacement service business while expanding into an attractive and growing market,” said Paolo Pompei, president of the Trelleborg Wheel Systems.
The transaction was consolidated on Jan. 1 this year.
