ERJ staff report (DS)
Stockholm - Trelleborg said it has agreed with Ansell Ltd to sell a business unit in protective products for a total of SEK 210 million (euro 23.6 million).
Trelleborg said the divested unit produces high-technology protective products - especially polymer-coated fabrics for equipment such as chemical suits and diving suits for professional users. Operations are mainly based in Sweden and Lithuania and are part of Trelleborg Engineered Systems.
The divested operation had annual sales of approximately SEK 170 M during 2011. The purchase consideration amounted to approximately SEK 210 M and is expected to lead to a capital gain in accounting terms of approximately SEK 130 M after tax. The transaction is expected to be finalized in the second quarter of 2012. The parties have also reached a long-term agreement covering the supply of polymer-coated fabrics from Trelleborg.
Peter Nilsson, President and CEO of Trelleborg said, â€œFurther development of the operation means that it will be farther away from our core competences, and that is not good for the operation or for Trelleborg. We are therefore satisfied with this solution.â€
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Press release from Trelleborg