Trelleborg acquires agricultural tire business in Australia
Trelleborg has, through its business area Trelleborg Wheel Systems, signed an agreement to acquire Armstrong Tyres, an Australian service and distribution company of agricultural tires. The business specializes in tires and complete wheels for original equipment manufacturers (OEMs) and tractor dealers, and holds a market-leading position in Australia. The acquisition increases Trelleborg’s presence in the Australian market and strengthens the base for the sale of tires to the aftermarket.
The acquired operation has its head office in Bendigo, Victoria, Australia. Sales in 2014 amounted to approximately SEK 50 M. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
“A local presence and global reach have become key drivers in our business strategy. This acquisition provides us with an excellent opportunity to expand our range of agricultural and complete wheels in an attractive and major market. We also see good prospects to position our business for future expansion in the Australian aftermarket,” says Maurizio Vischi, President of the Trelleborg Wheel Systems business area.
The transaction is expected to be finalized in the second quarter of 2015.
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Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative engineered solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 22 billion in over 40 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. In addition, Trelleborg owns 50 percent of TrelleborgVibracoustic, a global leader within antivibration solutions for light and heavy vehicles, with annual sales of approximately SEK 16 billion in about 20 countries. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.