Trelleborg Acquires Watts Tyre Group

ERJ staff report (DS)

Stockholm -- Trelleborg AB, through its Trelleborg Wheel Systems business area, has signed an agreement for the acquisition of the UK's Watts Tyre Group for about SEK 230 million (euro 25 million). Watts Tyre makes and distributes industrial tyres and has annual sales of approximately SEK 300 M (euro 32 million) and about 230 employees.

The acquisition is expected to be finalised in the first quarter of 2011. The operation will be integrated with the Trelleborg Wheel Systems business area. The Watts Tyre Group head office is based in Lydney, in the UK.

The deal strengthens Trelleborg's world-leading position in industrial tyres, through geographic expansion and an increased presence in the aftermarket.

"The acquisition is a further step in our strategy to continuously strengthen our positions in selected segments," says Maurizio Vischi, business area president of Trelleborg Wheel Systems. "The acquisition improves our positions and generates opportunities for future growth. This also creates favorable possibilities for synergies, primarily through increased use of our efficient and modernised plant in Sri Lanka."

"With the acquisition of Watts Tyre Group, we are taking our industrial tyre operation to a new level," says Maurizio Vischi. "We will become stronger in the aftermarket and will, for example, have access to an advanced service concept that is marketed under the name Interfit."

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Press release from Trelleborg