The purchase came on the back of another transaction with German rubber giant Freudenberg earlier in the year.
In a €8.4-billion deal, Trelleborg sold its shares in the Vibracoustic automotive parts joint venture with German-based rubber company Freudenberg in July.
Originally called TrelleborgVibracoustic when the 50/50 jv was formed in 2012, the company consisted of Trelleborg’s automotive and Freudenberg’s corresponding anti-vibration solutions operation.
In the words of company CEO Peter Nilsson, 2016 is the year of “major structural changes” for the group, another highlight of which was the group’s €1.1-billion purchase of Prague-based CGS in June.
While the lion’s share of CGS sales comes from its Mitas tire business, the acquisition also added two sizeable rubber producers – Rubena and Savatech with a combined sales of just under €600 million in 2015 – to Trelleborg’s stable.
Slovenia-based Savatech manufactures industrial rubber products, including rubber profiles for the building industry, conveyor belts for industrial applications and moulded products.
The Czech-based Rubena offers rubber sealing and anti-vibration systems (AVS) – further strengthening Trellborg’s position in this area.