ERJ staff report (DS)
Stockholm, Sweden -- Trelleborg AB has reported stronger sales and stable profits for the first six months of the year. Sales for the six months ended June 2008 rose to SEK 16 393 million (Euro 1731 million), up from SEK 15 719 million a year earlier. Operating profit was fractionally down, at SEK 911 million from SEK 934 million, but earnings were identical at SEK 482 million.
Trelleborg noted that its restructuring of the Fluid Solutions business unit in Nantes, France, which is part of Trelleborg Automotive, was initiated during the quarter. It has been proposed that sizeable parts of Fluid Solutions in Nantes will be transferred to existing operation in Turkey. In total, the action program is expected to affect about 450 persons.
The production plant of the Trelleborg Sealing Solutions business area in Guelph, Canada, with approximately 100 employees, will be shut down during the second half of 2008 and production will primarily be relocated to existing operation in Brazil and Mexico and at the same time are some existing product groups to be phased out.
Trelleborg also commented on the Marine Hose case, saying, "Since 2007, two of Trelleborg's subsidiaries in France and the US have been the subject of investigations by competition authorities in the US, EU, UK, Brazil and Japan. The authorities in Japan have completed their investigation without taking measures against Trelleborg. Currently, all estimations of thepossible financial impact involve considerable uncertainty, but the potential combined financial impact could reach amounts that correspond to a predominant proportion of the Group's pre-tax profits for 2006."
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Press release from Trelleborg