Trelleborg acquisition of UK based Laird's automotive component activities completed
Trelleborg acquisition of UK based Laird's automotive component activities completed As the Trelleborg Group has received all required approvals, its acquisition of the UK company Laird Group Plc's automotive components (LAC) has been completed. The purchase price was approximately SEK 1.5 billion, corresponding to around 0.5 times the company's sales, or five times its earnings before financial items and depreciation. LAC has annual sales of approximately SEK 2.8 billion, with slightly more than 3,000 employees at 16 production units in six countries, mainly in Europe. Through this acquisition, Trelleborg strengthens its position as a world leader in the field of antivibration products and systems for the automotive industry. Trelleborg has now approximately 25 percent of the global market within this area. The Trelleborg Group has signed an agreement with Laird Group Plc to acquire the UK company's automotive components (LAC). 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 16.5 billion (performa including the acquisition of LAC), with approximately 15 500 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 BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/02/20010102BIT00280/bit0001.doc http://www.bit.se/bitonline/2001/01/02/20010102BIT00280/bit0002.pdf