Trelleborg acquires MacDermid Offset Printing Blankets
Through its Trelleborg Engineered Systems business area, Trelleborg has entered into an agreement to acquire the operations of the US company MacDermid Offset Printing Blankets, with approximately 400 employees and sales of about SEK 540 M in 2007. MacDermid Offset Printing Blankets is a leading player in the area of Printing Blankets for the graphic industry and is part of the US group MacDermid Inc.
The acquisition strengthens Trelleborg’s leading position in the area of Printing Blankets - polymer-coated composite fabrics designed in several layers for use in commercial offset printing.
“The acquisition is part of Trelleborg’s strategy to grow within profitable industrial segments,” says Lennart Johansson, Business Area President of Trelleborg Engineered Systems. “The graphic industry is an attractive and growing segment for us and since our acquisition of Reeves in 2006, the area of Printing Blankets has developed very well. We are now strengthening our offering further in terms of the product portfolio and geographic presence within the aftermarket as well as OEM sales.”
“From an overall perspective, this acquisition gives Trelleborg a solid platform for continued growth in offset printing blankets. We will be the market leader in Europe and will have a good second position in the US. The acquisition also provides the possibility of favorable synergies in terms of marketing and costs.”
MacDermid Offset Printing Blankets, with its head office in Denver, Colorado, in the US, has production units in the US and France, as well as a global sales organization.
The purchase consideration amounts to approximately SEK 400 M in cash, which will be settled in full on completion. The transaction excludes certain receivables at a value of approximately SEK 20 M. The acquisition is conditional upon the fulfillment of certain conditions and the approval of the appropriate authorities. It is expected to be concluded during the second quarter of 2008.
The operations will be integrated with the existing business in Trelleborg Engineered Systems.