UAB „GRI Nordic“
GRI is a leading specialty tire manufacturer from Sri Lanka with offices in six countries and its tires are sold in over 50 countries worldwide. GRI produces tires with excellent technical characteristics for agricultural, construction and loading equipment.
A well-known specialty tire manufacturer with a strong growth strategy has recently acquired NORTIRE OÜ in Northern Europe. By acquiring the Nortire group, which is headquartered in Estonia, has a branch in Latvia and two branches in Lithuania, GRI will further expand its global tire service network, while ensuring its significant foothold in the Northern European tire market.
Tarmo Männasalu founded the Nortire Group in 2000 and is now a leading distributor of tires and wheels, rubber tracks, polyurethane wheels and castors for handling, industrial and construction machinery. Its activities include Estonia, Latvia, Lithuania, Belarus and Western Russia. In addition, Nortire owns four large warehouses in the region.
"I am proud to announce the acquisition of this group of companies. Year after year, Männasalu grew its business and increased its income at a commendable pace, until it reached an attractive level for the GRI company. This milestone will strengthen GRI and increase its geographic reach. In fact, the Nortire group is a recognized market leader in forklift tires. This competitive advantage will contribute to GRI's success in the market," said GRI CEO Prabhash Subasinghe.
"GRI, as a leader in this field and with ambitious business development plans, through the Nortire Group, this