14 December 2010 – As part of its strategic focus, Trelleborg has entered an agreement to divest its roofing operations, which is included in the Trelleborg Engineered Systems business area. The operations will be taken over by Axcel, a Nordic private equity fund with offices in both Copenhagen and Stockholm.
“This divestment is a further step in our strategy to focus on selected segments,” says Peter Nilsson, President and CEO of Trelleborg. “The business we are divesting is now ready to be taken to the next level and we are prioritizing ventures in other areas. Through the divestment, we are freeing up capital and creating flexibility.”
“We are satisfied with this solution,” says Lennart Johansson, business area President of Trelleborg Engineered Systems. “We have developed this into a good operation that will now have the possibility for further development by a new owner, at the same time as we can focus on such activities that are future core areas for us.”
The business to be divested comprises polymer and bitumen-based products for sealing and waterproofing applications for industry and consumers. The business includes such brands as Mataki, Trebolit, Trelleborg Phønix, Hetag Tagmaterialer and Prelasti.
The divested part has annual sales of approximately SEK 900 M and the operation has about 230 employees. About 85 percent of sales take place in Sweden and Denmark. Production is conducted at three locations in Sweden and Denmark.
The purchase consideration amounts to approximately EUR 70 M, which is expected to lead to a capital gain in accounting terms of approximately SEK 300 M after tax. The purchase consideration is partly financed with an interest-bearing vendor note of about EUR 11 M from Trelleborg. The parties have entered into a long-term agreement for the delivery of rubber compounds from Trelleborg corresponding to annual sales of approximately SEK 65 M.
The acquisition requires approval of the appropriate authorities, and is expected to be finalized in the first quarter of 2011.
The Trelleborg Engineered Systems business area has about 7,000 employees with sales of approximately SEK 11,200 M. Trelleborg Engineered Systems is a leading global supplier of engineering solutions that aim to seal, protect and secure investments, processes and people in demanding environments.
Contacts
Media: Mikael Sjöblom, Vice President Media Relations
+46 (0)410 67015
+46 (0)733 747015
mikael.sjoblom@trelleborg.com
Investors/analysts: Conny Torstensson, Vice President IR
+46 (0)410 67070
+46 (0)734 087070
conny.torstensson@trelleborg.com
About Trelleborg
Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and in-depth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group had annual sales during 2009 of approximately SEK 27 billion, with about 20,000 employees in 40 countries. The Group comprises four business areas: Trelleborg Engineered Systems, Trelleborg Automotive, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and is listed on the OMX Nordic List, Large Cap. www.trelleborg.com
This information is such that Trelleborg AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on December 6, 2010 at 08:30 CET.
