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.
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