"Trelleborg reports a satisfactory result for the quarter, albeit influenced by the weaker economy. The sales trend was relatively favorable in Asia and North America, while sales in Europe was generally weak. Cash flow was strong, due primarily to efficient inventory management.
We continue to invest to improve our positions in high-growth countries and selected segments. For example, in Brazil, during the quarter we acquired a printing blankets business and inaugurated a facility for manufacturing products for deep-sea oil and gas extraction.
The joint venture TrelleborgVibracoustic has been operational since the beginning of the third quarter. The integration of the two operations has started in a good way and will be intensified to secure the many benefits that the joint venture will bring.
We clearly see that the underlying demand trend is negative in several of our market segments and geographies. During the quarter, measures to adjust operations to the weaker market, has been implemented. This work will continue in the fourth quarter,” says President and CEO Peter Nilsson.
Invitation to a telephone conference on October 24 at 10:30 a.m.
A presentation and telephone conference will be held on October 24 at 10:30 a.m. The presentation will be held at Operaterrassen in Stockholm. To participate in the telephone conference, call +46 (0)8 5056 2932 or +44 (0) 2077 5099 50 or +1 8666 7658 69. Code: “Trelleborg”. The conference will also be broadcast on the Internet in real time. Visit our website at:
www.trelleborg.com/en/Investors/Presentations for the Internet link and presentation materials.