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Trelleborg — M&A Activity 2011
Jan 13, 2011
2985_rns_2011-01-13_299037fb-9b17-4c1f-bb9f-06ed25c03e44.pdf
M&A Activity
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Press release Trelleborg, January 13, 2011
Trelleborg divests its operations in brake hoses for light vehicles – continues concentration on selected segments
Trelleborg has signed an agreement to divest its operations in brake hoses for light vehicles, which is located in Brazil and is part of the Trelleborg Automotive business area. The buyer is the French company Flexitech. This divestment is a further step in the Trelleborg Group's strategy of focusing on selected segments.
"This is a good solution," says Jim Law, President of the Trelleborg Automotive business area. "This is the only operation in Trelleborg within this product area. It is a local operation in Brazil and the effort required to develop the business to the next level would require a major strategic shift. Accordingly, we have chosen to divest the operation to make way for other investments. "
Trelleborg Automotive has long had a major operation in Brazil in the area of antivibration for light vehicles, which has performed extremely well. The divestment will enable further focusing on this operation.
The divested business has annual sales of approximately SEK 140 M and slightly more than 200 employees. All sales are made in the Brazilian market.
The purchase consideration amounts to approximately SEK 65 M. In addition to the purchase consideration, Trelleborg will retain assets primarily related to the infrastructure in an amount of approximately SEK 30 M. The acquisition is dependent on the approval of the appropriate authorities and is expected to be completed during the first quarter of 2011.
The Trelleborg Automotive business area is world-leading in the development and production of polymerbased components and systems for noise and vibration damping for cars, light vehicles and heavy trucks. The business area has about 7,000 employees.
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Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and indepth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group had annual sales during 2009 of approximately SEK 27 billion, with about 20,000 employees in 40 countries. The Group comprises four business areas: Trelleborg Engineered Systems, Trelleborg Automotive, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and is listed on the OMX Nordic List, Large Cap. www.trelleborg.com
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For further information, please contact: Media: Vice President Media Relations Mikael Sjöblom, +46 (0)410 67015, +46 (0)733 74 70 15, [email protected] Investors/analysts: Vice President IR Conny Torstensson, +46 (0)410 67070, +46 (0)734 087070, [email protected]
This information is such that Trelleborg AB (publ) must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading (Market Abuse Penalties) Act. This information was submitted for disclosure on January 13, 2011, at 8:30 a.m. ________________________________________________________________________________________________________________
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