Trelleborg divests local operation in France
Trelleborg has signed an agreement and finalized the divestment of an operation in Cernay, France. The operation is within Trelleborg’s reporting segment, Businesses Under Development and a part of the printing blankets operation. Its buyer is the Belgian Hannecard Group. The divestment is a further step in Trelleborg’s strategy to focus on selected segments.
The divested operation develops and manufactures rubber-covered rollers, used for example in the embossing or gluing of tissues, as well as rubber belts, used in the shrinking process of fabrics. It is a local non-core printing blankets operation that accounts for a very small part of Trelleborg.
“We have developed the now divested operation in a satisfactory manner and we are delighted that a new owner will take control of it. At the same time, Trelleborg will achieve a more focused printing blankets operation that we can continue to develop,” says Dario Porta, Business Unit President of Trelleborg’s printing blankets operation.
The divested operation, which had annual sales of approximately SEK 70 M in 2018 and profitability in line with the level for Trelleborg’s printing blankets, will be deconsolidated on January 7, 2020. The transaction will only have a negligible impact on the Group’s earnings.
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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 34 billion and operations in about 50 countries. The Group comprises three business areas: Trelleborg Industrial Solutions, Trelleborg Sealing Solutions and Trelleborg Wheel Systems, and a reporting segment, Businesses Under Development. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap. www.trelleborg.com