Trelleborg Acquires Canadian Tire Distributor
Trelleborg has acquired Pneus ICM, a privately-owned Canadian tire distributor, through its Trelleborg Wheel Systems business area.
Pneus ICM is a specialized industrial tire service provider and distributor in Montreal, Canada. Trelleborg officially completed the acquisition on January 1, 2019.
In addition to being the second largest industrial tire dealer in the Montreal area, Pneus ICM is a major service provider for eastern Canada. The company’s annual sales are reported to be approximately $2.54 million. This acquisition is a part of Trelleborg’s strategy to strengthen its positions in attractive market segments. Trelleborg sees it as an advancement of its industrial tire distribution network to a new important 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,” says Paolo Pompei, President of the Trelleborg Wheel Systems business area.
Originally a part of Pneus Southward, Pneus ICM became a separate legal entity under the same ownership in 2007. The decision was a move to provide better service to industrial customers, focussing entirely on this special segment of the tire industry. The company has been working towards satisfying the diverse tire and service requirements of its industrial tire customers since then.