Trelleborg strengthens its position in Asia through
acquisition of vehicle component company in South Korea
Trelleborg has signed an agreement covering the acquisition of 51
percent of the automotive component company Kunhwa Co Ltd. 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.
"Kunhwa is an established supplier to the Korean automotive industry and
through this acquisition we will strengthen our presence in the growing
Asian market," says George Caplea, President of Trelleborg Automotive.
"As a result of the acquisition, a solid platform is created for sales
of thermoplastic boots to Korean and Japanese automobile manufacturers,
and we will benefit from an enhanced presence as a supplier to the
increasingly important Korean automotive industry."
Kunhwa has approximately annual sales of EUR 25 M, with 218 employees
and a production unit in Daegu in South Korea. The takeover of
operations will occur when the South Korean authorities have provided
formal approval, which is expected during May 2003.
Trelleborg Automotive is a leading global supplier of antivibration
products, mainly to the light vehicle industry. The business area has
approximately annual sales of 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, Turkey 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
approximately annual sales of EUR 2 billion, with approximately 15,000
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 the Stockholm Exchange since 1964.
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download: