Trelleborg Group becomes sole owner of Chinese operations
Through its Trelleborg Automotive business area, the Trelleborg Group has signed an agreement to acquire the remaining 45 percent of shares in its Chinese subsidiary, Wuxi Trelleborg Vibration Isolator Co Ltd., in Wuxi, outside Shanghai. Trelleborg has, since 2000, owned the majority holding in the company, which has been 45-percent owned by the Wuxi Guolian Group. ”The acquisition of the remaining holding in Wuxi represents part of our strategic drive to reinforce our competitiveness in Asia,” says Trelleborg’s CEO, Peter Nilsson. “Full ownership makes increased investment possible. The new ultra-modern plant at Wuxi gives us the capacity and efficiency needed to meet growing demand, which will benefit both domestic and international customers.” Trelleborg Wuxi, which will be the name of the new company, has approximately 300 employees. Operations focus primarily on vehicle components, such as antivibration systems. The plant, which was inaugurated during the spring of 2005, replaced Trelleborg’s former plant in Wuxi, doubling production capacity. The total area of the new plant is almost 20,000 square meters and the facility has been designed according to stringent environmental standards. Trelleborg Automotive is a leading global supplier of antivibration products and flow systems, primarily to the light-vehicles industry. The business area has annual sales of approximately SEK 9,200 M and about 9,600 employees in 14 countries on four continents. Its head office is located in Michigan, in the US. The business area has continually strengthened its positions in Asia, including through the acquisition of the majority shareholding in the vehicle-components company Kunhwa Co Ltd. in South Korea in 2003.