Report from Trelleborg AB’s Annual General Meeting

Approximately 700 shareholders participated in the Trelleborg Group’s Annual General Meeting in Trelleborg on April 20. The theme of CEO Peter Nilsson’s presentation was “A stronger Trelleborg”. 

“The year 2009 was a dramatic one, with a sharp decline in demand, to which we swiftly and effectively adapted ourselves,” said Peter Nilsson. “Dramatic times create opportunities and Trelleborg forcefully seized on these opportunities and emerged a stronger Group than before the crisis. We are well prepared for the future with contingencies for both a rise and decline in the market.”

“Since 2005, we have made investments in developing our product structure to create even better positioned. We discontinued 25 production units in mature markets in Western Europe and North America. At the same time, we launched 10 completely new production units outside these markets.

“By locating units in new markets with higher growth, we have improved our global presence, while simultaneously forming closer relationships with our customers. Some 35 percent of our employees are currently in markets outside Western Europe and North America, while the percentage of sales deriving from these markets is 24 percent, which indicates major continued growth potential.” 

“In markets outside Western Europe and North America, we are growing rapidly. Since 2005, sales in these regions have increased by 75 percent to about SEK 6.5 billion. In 2009 alone, our sales in China rose by 30 percent.”  

Board of Directors
In accordance with a proposal from shareholders representing about 66 percent of the number of votes in the company, Heléne Bergquist, Hans Biörck,Claes Lindqvist, Sören Mellstig, Anders Narvinger and Peter Nilsson were reelected. Nina Udnes Tronstad and Bo Risberg were elected as new Board members. Staffan Bohman declined reelection. The Meeting elected Anders Narvinger as Chairman of the Board. The Meeting also resolved to retain the fees per Board member.

Dividend
In accordance with the proposal of the Board of Directors and the President, the Annual General Meeting resolved to pay a dividend of SEK 0.50 per share. 
April 23 is the record date, which means that the dividend is expected to be distributed by Euroclear Sweden AB on April 28.