Approximately 700 shareholders attended Trelleborg’s Annual General Meeting in Trelleborg on April 20. The theme for CEO Peter Nilsson’s address was “A focused industrial Group”.
“For Trelleborg, 2010 was a successful year. Our strategies and action program generated excellent income and profitability results when the recovery in the global economy gathered momentum again. Sales in continuing operations increased to slightly more than SEK 27 billion and organic growth was 17 percent. Operating margins improved as a result of increased sales volumes and a more efficient structure.
“As an industrial Group we have created a solid ground for the future. We develop innovative and reliable solutions that seal, damp and protect in demanding industrial environments. We combine polymer technology and a unique application know-how.
“In recent years, we have focused on strengthening the future competitiveness of the Trelleborg Group. Trelleborg is today well positioned with a better geographical balance and more effective structures. We have increased presence in the emerging markets of Eastern Europe, Asia and Latin America. For example, sales in Asia rose 157 percent in 2010, compared with 2005. Similarly, sales in South and Central America rose 110 percent.
“We have implemented a number of acquisitions and divestments. A more substantial journey of change was initiated in early 2011 when a letter of intent was signed with Freudenberg to form a joint venture for light and heavy vehicles. I believe it is an excellent value-generating solution for Trelleborg. The joint venture will provide us with the best opportunity for advancing the antivibration operation, while it enables Trelleborg to focus on remaining business. The contractual process is ongoing and some issues remain to be solved.”
Board of Directors
In accordance with a proposal from shareholders representing approximately 66 percent of the votes in the company, Heléne Vibbleus Bergquist, Claes Lindqvist, Anders Narvinger, Sören Mellstig,
Hans Biörck, Nina Udnes Tronstad, Bo Risberg and Peter Nilsson were re-elected Board members. The Annual General Meeting elected Anders Narvinger as Chairman of the Board.
The Meeting resolved in accordance with the Board of Directors’ and President’s motion to pay a dividend of SEK 1.75 per share. The record date for the dividend is April 27, which means that the dividend is expected to be paid from Euroclear Sweden AB on May 2, 2011.