Watts Tyres Plc has today
announced the purchase of Diprima’s Industrial Tire Business, after reaching an agreement with Diprima Marketing Services Inc,
This latest acquisition, combined with the existing Watts facility in Valley City Ohio, gives the firm a strategic position in both the north and south of the US, putting it on track to achieve its ambitious growth plans.
Jean-Paul Mindermann, Chief Executive for Watts Tyres Plc comments: ” We have established a strong partnership with Diprima over the years, and this acquisition gives both parties the opportunity to concentrate on their core businesses. It will enable us to strengthen our position in the US Industrial Tire market and continue to expand the excellent platform already developed by Diprima in the southern states. The acquisition will enable Diprima to focus on growing its Passenger, Light truck, and Medium Radial truck tires business.’’
Watts will continue to service the existing Diprima Industrial customer base from Rossville GA, having agreed to lease warehouse space from Diprima. As part of the deal Gerald Early will join Watts Industrial Tyre Services LLC, the US division of Watts Tyres Plc, as Operations Manager and Doug Pearson, who has been Managing Director of Watts Industrial Tyres for more than 20 years will head up the US business unit as President.