News

As of 1 October 2019, 2 OBO establishments within the Magna Tyres Group will undergo a name change.

As of 1 October 2019, 2 OBO establishments within the Magna Tyres Group will undergo a name change. Both establishment will continue under new names, namely:

•OBO Tyres Hardenberg will become Magna Tyres Factory

•OBO Reifen Leipzig will become Magna Tyres GermanyTogether with the already renewed image, the new name will improve brand awareness and lead to clearer positioning of the company.

These name changes are in line with Magna Tyres Group's ambitious international growth strategy, aimed at ensuring the further expansion of its global network. STRATEGIC NAME CHANGEThe name change anticipates the next step in the global expansion of Magna Tyres Group. Magna Tyres Factory will be focusing on increasing production capacity in Hardenberg, Netherlands.These name changes are in line with the business plan for 2019 -2023, in which Dutch production will be significantly increased with a view to promoting intensive market penetration with the premium brand Magna Tyres.

In the run-up to this name change, the expansion of the Magna Tyres range in Hardenberg has led to the divestment of some previously produced OBO product groups and/or private labels for third parties.Magna Tyres Germany meets the increasing demand for Magna products in the German market.The focus is, of course, on all sales-related growth scenarios with both new and existing customers or partners who value Magna Tyres as a premium quality brand in the German market.