MONTREAL — Trelleborg Wheel Systems has acquired Pneus ICM Inc., a Montreal-based industrial tire distributor and service provider.
Pneus ICM is the second largest industrial tire dealer in the Montreal area and a main service provider for eastern Canada, Trelleborg said. The acquisition represents a new market area for Trelleborg.
"A local presence and global reach are key drivers in our business strategy," according to Paolo Pompei, president of Trelleborg Wheel Systems.
"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."
With annual sales of approximately $2.5 million, this acquisition is part of Trelleborg's strategy to strengthen its positions in attractive market segments. It enlarges Trelleborg's industrial tire distribution network to a new important geographic market.
Originally known as Southward Tire Industrial Division Ltd., the company became a separate legal entity under the ICM Tires Inc. name in July 2007.
The firm's website shows it handles Continental-, Mega-T-, Solideal-, Superior-, Unitrac- and Westlake-brand tires.