General

Successful reopening OBO Tyres factory

Magna Tyres Group is delighted to announce the start of the production of Magna Tyres at the OBO Tyres factory in Hardenberg, the Netherlands. This was announced during the “Grand Reopening” event hosted the 11th of January by OBO Tyres. Michael de Ruijter (CEO Magna Tyres Group) and René de Vent (Alderman municipality of Hardenberg), unveiled the first Magna "Made in Holland" production which was received with great enthusiasm.

"This is a huge development for Magna Tyres Group and an important milestone in the history of our
company," said Michael de Ruijter. "The expansion is important because we are struggling to keep up
with the fast growing demand for Magna Tyres. We have invested heavily in the factory and can
significantly expand our production capacity to meet the rising demand for our popular brand. Our
growing customer base worldwide will greatly benefit from these achievements and we expect it will
create new sales opportunities as well. Additional investments are already made in order to increase
press capacity even further."

"People may wonder, is it economically viable to produce new tyres in the Netherlands?" Peter Schrijver,
General Manager of OBO Tyres commented, "the answer will not surprise you as you witnessed the
start of the European production. Our efficiency, lower transport costs and lower import duties make
it very cost-effective to produce locally and to invest in more production capacity. From now on Magna
MA02, M-Terrain and AG24 are available as a made in Holland product and we are very proud on this
achievement."

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