Trelleborg enters Malaysian joint venture for production of composite hoses
Trelleborg has, through its Trelleborg Industrial Solutions business area, signed an agreement with Wellcall Holdings Bhd. to form a joint venture in Malaysia to manufacture and sell industrial hoses in composite materials. For Trelleborg, this venture is part of the Group’s strategy to strengthen its positions in attractive market segments.
The joint venture will establish a production site in Malaysia. The first hose deliveries are scheduled to begin in 2020. Typical applications for hoses in composite materials include hoses for road and rail tanker trucks, hoses for aviation fuel and hoses for aggressive chemicals. Trelleborg currently manufactures composite hoses in Europe.
“We are very satisfied with the partnership with Wellcall. Trelleborg will contribute technological know-how in composite hoses and Wellcall, with its operations based in Malaysia, will contribute local knowledge concerning both the market and in operational terms. Trelleborg holds a strong position in this niche segment but the joint venture will allow us to grow our production capacity, reach new markets faster and strengthen our offering,” says Jean-Paul Mindermann, President of the Trelleborg Industrial Solutions business area.
Trelleborg will own 51 percent of the joint venture.
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 solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of about SEK 32 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.
www.trelleborg.com