Tractamotors to sell wholesale tyre division

Tractamotors' wholesale tyre divisions are being sold to ETEL, a leading tyre distributor owned by the Japanese ITOCHU Corporation, for an undisclosed sum.

In a statement issued by the owners yesterday, they said: "Moving forward, Tractamotors Ltd will focus on growing its other businesses in Cavan town , including Pitlane Tyres and Motor Factors, Tractamotors Topline Hardware, and Tractamotors Agri Machinery.

"These businesses will remain under the ownership and management of the Clarke-Murray families and will continue to operate successfully in Cavan Town."

The deal was announced yesterday and the sale of the Cavan Town business is expected to be finalised in the coming weeks.

ETEL already has operations in the UK, the Netherlands, and Italy. This deal will significantly expand its presence in the Irish market.