Trelleborg Group becomes full owner of Japanese distribution company
Through the Trelleborg Sealing Solutions business area, the Trelleborg Group has acquired the remaining 49 percent of shares in the Japanese subsidiary, Eika Corporation. The earlier 51-percent holding in Eika was included in the Trelleborg Group's acquisition of Polymer Sealing Solutions in 2003.
Eika, which has sales of approximately SEK 130 M (EUR 14 M) and 17 employees in Tokyo, is a specialized supplier of elastomer components, distributed primarily through Trelleborg Sealing Solutions' market companies around the world. Among other products, Eika is a major supplier of O-rings to the automotive industry and of O-rings and molded goods to the chemical and process industries.
"The acquisition of the remaining part of Eika represents a strategic reinforcement of our distribution network," says Claus Barsøe, Business Area President for Trelleborg Sealing Solutions. "Eika has been an important partner of ours for many years and will now play a key role, to an even greater extent, in accelerating our growth opportunities, both in Europe and in the important, expanding Asian market."
The purchase price amounts to SEK 32 M.
Trelleborg Sealing Solutions is a leading global supplier of high-quality precision seals for industrial applications. The business area has sales of approximately SEK 5,200 M and some 6,000 employees. It is headquartered in Stuttgart, Germany and maintains production units in Brazil, Denmark, France, India, Italy, Japan, Canada, Malta, Mexico, Poland, the UK, Sweden and the US.
Further information can be obtained from Trelleborg's Senior Vice president, Corporate Communications, Mikael Byström, +46 410-670 37, +46 708-552169, or Vice President Corporate Communications Viktoria Bergman,+46 410-670 94, +46 708- 47 57 33.
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 22.5 billion, with about 21,000 employees in 40 countries. Trelleborg consists of five business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, Trelleborg Building Systems and Trelleborg Sealing Solutions. The Trelleborg share has been quoted on the A list of Stockholmsbörsen since 1964. www.trelleborg.com
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