Trelleborg acquires leading large solid tire distributor and increases its geographical reach
Trelleborg has, through its business area Trelleborg Wheel Systems, signed an agreement and finalized the acquisition of International Tyre and Wheel Solutions Ltd. (ITWS). ITWS is a UK-based privately owned distributor of large solid off-the-road (OTR) tires for the waste, recycling and demolition industries. The acquisition complements the recent acquisition of Mitas pneumatic construction tires and gives Trelleborg a clear and broad offering in both pneumatic and solid tires across Europe, Middle East and Africa.
The acquired operation is headquartered in Lowton, England. Sales amounted to approximately SEK 40 M in 2015. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
“In the acquisition of ITWS we have acquired the leading distributor in Europe of large solid tires, with an attractive distribution network and customer base. The acquisition gives us the opportunity to expand our offering of construction tires in Europe but will also enable us to accelerate and strengthen us as a supplier of solid OTR tires in the Middle East and Africa,” says Maurizio Vischi, President of the Trelleborg Wheel Systems business area.
The transaction will be consolidated as of September 1, 2016.
For further information, please contact:
Media: Vice President Media Relations Karin Larsson, 46 (0)410 67015, 46 (0)733 747015, karin.larsson@trelleborg.com
Investors/analysts: Vice President IR Christofer Sjögren, 46 (0)410 67068, 46 (0)708 665140, christofer.sjogren@trelleborg.com
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 30 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, and the operations of Rubena and Savatech. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.
www.trelleborg.com