Trelleborg signs final agreement for sale of the operations within Metech
Trelleborg signs final agreement for sale of the operations within Metech The Trelleborg Group has signed a final agreement for the sale of the operations within its metals-recovery company in the US, Metech International Inc. The purchaser, through its American subsidiary, is the Viking investment company, which is listed in South Africa. The transfer of ownership is expected to occur during the third quarter of 2002. The sale of the Metech operations will result in a loss of approximately USD 3 M, which will be charged against the Trelleborg Group's earnings during the second quarter, and a positive cash flow of approximately USD 12 M during the third quarter. "The sale offers an acceptable way to free the capital tied up in the Metech operations, while it also means that we have now divested virtually all units outside our core operations," notes Fredrik Arp, Trelleborg Group CEO. Further information can be obtained from Jan Björck, CFO, tel. +46 410 670 28, Mikael Byström, Senior Vice President Corporate Communications, tel. +46 410-670 37 (mobile: 0708-552169) or from Trelleborg's Corporate Communications department, tel. +46 410-670 00. 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 approximately SEK 19 billion, with about 16,000 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 Stockholmsbörsen (the 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.waymaker.net/bitonline/2002/07/04/20020704BIT00070/wkr0001.doc http://www.waymaker.net/bitonline/2002/07/04/20020704BIT00070/wkr0002.pdf