Trelleborg acquires remaining portion of Pirelli Joint Venture
Trelleborg acquires remaining portion of Pirelli Joint Venture During the second half of 1998, Trelleborg Wheel Systems and Pirelli Tyres formed a joint venture company for Pirelli's sales and manufacture in Italy of agricultural tires at its production unit in Tivoli, in southern Italy. A new company, Trelleborg Wheel Systems S.p.A., was formed, in which the Trelleborg Group had a 60-percent interest and Pirelli Tyres 40 percent. The Trelleborg Group has now exercised the option to acquire Pirelli Tyres' share and Trelleborg Wheel Systems S.p.A. is now a wholly owned subsidiary of the Trelleborg Group. Since 1998, Trelleborg Wheel Systems' plant in Tivoli has successfully launched a number of new tire models for the tractor and agricultural machines market, with sales successes that include the TM600, the TM800 and the TM900 series. Through its 1998 acquisition, Trelleborg Wheel Systems has achieved a leading position in the agricultural and forestry machine tyre sectors in Europe. For further information please call Trelleborg AB's Senior Vice President Corporate Communications Mikael Byström, +46 410 670 37 or +46 708 55 21 69, or Vice President Corporate Communcations Mikael Sjöblom +46 410 670 94 or +46 708 55 21 30. Trelleborg is a global industrial group undergoing a major process of change. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, with functional solutions and systems designed to meet the needs of our customers. The Group has annual sales of SEK 18 billion (performa including the acquisition of LAC and latest acquisitions), with approximately 16 500 employees in 40 countries. Trelleborg consists of four business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems and Trelleborg Building Systems. The Trelleborg share has been quoted on the A-list of the OM Stockholm Exchange since 1964. www.trelleborg.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.bit.se/bitonline/2001/07/03/20010703BIT00140/bit0001.doc http://www.bit.se/bitonline/2001/07/03/20010703BIT00140/bit0001.pdf