Trelleborg sells operations in roll-coverings area
Trelleborg sells operations in roll-coverings area Trelleborg AB has signed an agreement to sell its roll-coverings operations to the US company, Stowe Woodward. The operations are located in Trelleborg, Sweden, and Mjöndalen, Norway. The divestment is expected to be concluded on May 31, 2001. The sale will release funds of approximately SEK 85 M for Trelleborg AB. The capital gain will be used in a program to restructure the operations of Trelleborg Engineered Systems in Mexico during the current year. "The trend in the roll-coverings market is increasing toward fewer players and to be really competitive would require an extensive range of both products and services and global production, among other factors" says Hans Porat, Executive Vice President of Trelleborg AB. "Roll- coverings is an area in which Trelleborg has limited opportunities to grow." "The agreement means that Stowe Woodward Sweden AB takes over all employees within Trelleborg Rolls in Sweden and that they are offered employment based on existing terms," says Georg Brunstam, President of the Trelleborg Engineered Systems business area. Trelleborg has produced roll coverings on license from Stowe Woodward since 1936. Stowe Woodward is the global leader in this product area, with more than 30 production plants throughout the world. Further information can be obtained from Georg Brunstam, President of the Trelleborg Engineered Systems business area, telephone: +46 (0) 410- 512 51, or 0708-55 12 51, or from Mikael Sjöblom, Vice President, Corporate Communications, telephone: +46 (0) 410-670 94, or 0708-55 21 30. Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, combined with functional solutions and systems designed to meet the needs of our customers. The Trelleborg Group has annual sales of SEK 18 billion (pro forma 2000), 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 BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/16/20010516BIT00940/bit0001.doc http://www.bit.se/bitonline/2001/05/16/20010516BIT00940/bit0001.pdf