Trelleborg concludes agreement to acquire
vehicle component company in South Korea
The Trelleborg group has concluded its agreement to acquire 51 percent
of the automotive component company Kunhwa Co Ltd. in South Korea.
Kunhwa has annual sales of approximately EUR 25 M, with 218 employees
and a production unit in Daegu in South Korea. Kunhwa's operations focus
on AVS (antivibration systems) and thermoplastic vehicle boots. The deal
represents a strategic strengthening of areas in which Trelleborg
Automotive already today holds a world-leading position.
Trelleborg Automotive is a leading global supplier of antivibration
products, mainly to the light vehicle industry. The business area has
annual sales of approximately EUR 1 billion, with about 8,800 employees
in 14 countries on four continents. The head office is in Michigan, in
the US. Trelleborg Automotive's operations in Asia comprises production
units in China and India. Since 2001, Trelleborg Automotive has enjoyed
a cooperation agreement with Tokai Rubber Industries, Japan's leading
supplier of automotive components in industrial rubber, which has Asian
production units in Japan, Thailand and China.
Further information can be obtained from President of Trelleborg
Automotive George Caplea, +1 269 639 4202, +1 616 283 7409 or from
Trelleborg´s Senior Vice President Corporate Communications Mikael
Byström, +46 (0)410 670 37, +46 (0)708 55 21 69.
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 EUR 2 billion, with approximately 15,000
employees in about 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 Stockholm Exchange since 1964.
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