ERJ staff report (DS)
trelleborg, Sweden -- Trelleborg is to buy some medical-focussed businesses from Switzerland-based Silcotech Group for around SEK 300 million (euro 30 million). The acquired operation focuses on precision seals and components in liquid silicone, primarily for the pharmaceutical industry and medical technology sector, but also used in certain critical electronic applications.
The Silcotech Group is privately owned and has a manufacturing operation in Stein am Rhein in Switzerland and joint venture operations in Pernik, Bulgaria and Huizhou, in southern China. The acquisition encompasses the entire operation in Switzerland, including the plant, and 50 percent of the joint venture in Bulgaria, with an option to acquire the remaining share, and an option to acquire the majority share of the joint venture in China.
The activities to be acquired have total sales of slightly more than SEK 200 million (euro 20?? million)and the deal is expected to be finalised during the second quarter 2011.
â€œWe have assigned priority to growth in life science and Silcotech is one of the leading companies in its niche segment,â€ says Claus BarsÃ¸e, President of the Trelleborg Sealing Solutions business area. â€œThis acquisition strengthens our product portfolio and improves our position in this area. It also provides good potential for synergies in terms of sales, enabling us to almost immediately offer Silcotech's solutions to certain existing customers, and in relation to manufacturing through mutual technology synergies.
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Press release from Trelleborg