Trelleborg acquires Italian distributor of agricultural tires
Trelleborg has, through its Trelleborg Wheel Systems business area, signed agreements and finalized the acquisitions of Provana Solutions srl and Provana Quality Center srl. Provana Solutions specializes in the distribution and service of tires and complete wheels to tractor dealers and farmers in Italy. Provana Quality Center provides testing of various tire solutions to original equipment manufacturers (OEMs) of agricultural machinery. The acquisitions will enable the development of the business area’s service concept for agricultural tires in Europe.
The companies are owned by members of the Provana family and have their head offices in Izano in northern Italy. The companies’ sales totaled approximately SEK 58 M in 2018. These bolt-on acquisitions are part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
“It is with confidence we welcome the operations to Trelleborg. Provana is recognized as possessing technological know-how in tires and complete wheels. Using the foundation provided by the company, we can extend the concept for tire services in the aftermarket for agricultural tires in Europe. The transaction strengthens us at the end stage of the value chain. We have extensive experience of service and distribution of industrial tires through the Interfit concept, but we now also have an opportunity to broaden our service offering in the aftermarket in agricultural tires,” says Paolo Pompei, President of the Trelleborg Wheel Systems business area.
The transaction will be consolidated as of March 15, 2019.
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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 solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 34 billion and operations in about 50 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.