Trelleborg completes acquisition of American Reeves Brothers Inc.
Trelleborg´s acquisition of Reeves Brothers Inc.has now been completed and Trelleborg thus becomes global leader in polymer-coated high-precision material. Reeves, with about 1,000 employees has annual sales of approximately SEK 1.4 billion.
Reeves is a leading international player in the development and production of polymer-coated, high-precision material in, for example, rubber, silicon and polyurethane. The acquisition provides Trelleborg with a world-leading position in polymer-coated fabrics and thereby strengthens what was already a market-leading position in the European market.
Reeves, with its head office in Spartanburg, South Carolina, has four production units, of which two are in the US, one in Italy and one in China. Reeves’ operation is divided into two divisions of equal size: Engineered Fabrics – polymer-coated fabrics with numerous application areas such as the aerospace industry, personal protective equipment, the defense industry and fluid solutions – and Printing Blankets – polymer-coated composite fabrics designed in several layers for use in commercial offset printing.
The purchase price totals approximately SEK 1,300 M in cash. The operations will be integrated into Trelleborg Engineered Systems.