ERJ staff report (TP)
Trelleborg, Sweden − Trelleborg has, through its business area Trelleborg Industrial Solutions, signed an agreement to acquire a 51-percent stake in the North American group Max Seal.
Pursuant to specific terms and conditions of the agreement, Trelleborg has an option and intends to acquire the outstanding share in the company. Max Seal develops and manufactures polymer-based sealing systems for various types of pipes deployed in water and wastewater systems.
Trelleborg said: “The business transaction will create a leading position in North America, while complementing Trelleborg’s existing range and presence in the US. It will also provide access to the rapidly growing markets in Latin America”.
The business has its main facility in Tijuana, Mexico, and a sales company in the US. Net sales in 2013 amounted to approximately SEK 80m (€8.9m). The joint venture is part of Trelleborg’s strategy to "strengthen its positions in attractive and profitable market segments."
The transaction is expected to be finalised during the first quarter of 2014.
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Press release from Trelleborg