Trelleborg concludes agreement to acquire vehicle component company in South Korea
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. 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/2003/05/21/20030521BIT00650/wkr0001.doc http://www.waymaker.net/bitonline/2003/05/21/20030521BIT00650/wkr0002.pdf