Stockholm, Sweden - Through its Engineered Systems business area, Trelleborg AB has signed an agreement to acquire Mehren Rubber A/S, with approximately 30 employees and annual sales of about SEK 65 M (Euro 7.1 million). The company is privately held and is located in Sande (20 km south of Drammen), Norway.
Trelleborg said Mehren Rubber is a niche-oriented contract producer of down-hole packers (oil/gas extraction equipment for sealing the area between the tubing and the wall of the wellbore) for Easywell, a global company within Halliburton that has entered the down-hole packer market with great success. The main product, "Swell Packer", uses the specific properties of rubber in projects requiring reliable and cost-effective zonal isolation technology. Swell Packer's flexible rubber seal is a virtually organic solution to reduce or eliminate gas and water breakthrough.
"Mehren fits in well with our ambitions to expand in the offshore business," says Lennart Johansson, President of Trelleborg Engineered Systems. "The products complete our current portfolio, and there are obvious organisational synergies."
The acquisition is expected to be completed in the third quarter of 2006.
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Press release from Trelleborg