GRI Asserts Dominance in Europe: The ATRA Acquisition Story

Hello, tire enthusiasts! The tire business scene is buzzing with yet another remarkable development: GRI, the Sri Lankan global giant in the tire industry, has extended its impressive European portfolio by acquiring ATRA Kecskemet, a well-known entity in the Hungarian tire sector.

ATRA, a 30-year veteran, is nothing short of a tour de force in the industry. With eight branches sprawled across Hungary and a seasoned team of 50, ATRA has built a solid reputation in the areas of material handling, agriculture, and construction industries, and tire fitment services. It boasts a substantial 50% market share in both material handling and construction tire markets in Hungary and beyond, making it a significant player in these sectors.

In the words of GRI's Europe Director, Mr. Giorgio Gramegna, this acquisition was a "strategic move." Hungary’s prime location in the heart of Europe, bridging the gap between Western and Eastern Europe, offers GRI an unparalleled opportunity. It’s not just about proximity to clients in neighboring countries, but the potential to leverage Hungary as a major logistics and operational hub.

Adding another jewel to its crown, GRI's CEO, Dr Mahesha Ranasoma, echoed the same sentiments, reinforcing the company's vision to expand its footprint across Europe. He acknowledged the immense potential to offer superior services in the continent and to seize a substantial market opportunity. Besides the existing GRI presence in Germany, Spain, France, Netherlands, and the Baltics, the new addition of Hungary marks yet another milestone in GRI's expansion journey.

Mr. Prabhash Subasinghe, Managing Director of GRI, expressed immense delight in welcoming ATRA into the GRI family. ATRA's impressive record of customer service, professionalism, and sustained business growth complemented by the alignment of their offerings with GRI's specialty tires made the decision to acquire ATRA a no-brainer.

Mr. Tibor Somos, the man behind ATRA's creation and its long-standing Managing Director, is equally thrilled about this new chapter in ATRA’s journey. He exuded confidence that under GRI’s new ownership and leadership, ATRA will scale to even greater heights.

If you're new to GRI, here's a bit about them: GRI, established in 2002, is renowned for their high-grade, sustainably produced specialty tires. These are made using pure natural rubber, primarily in Sri Lanka. With operations in ten countries and a business presence in over 50, GRI has been a significant global player in the tire industry. A key part of GRI’s ethos is their commitment to sustainability and environmental protection throughout its operations, both locally and globally.

Keep an eye on this space, tire buffs, as this merger is sure to bring exciting new developments in the tire market. Until next time, keep rolling!