Trelleborg acquiring automotive boots manufacturer in India
28 Nov 2022
To-be-acquired business located close to automotive manufacturing cluster in Kanpur
Trelleborg, Sweden – Trelleborg Industrial Solutions (TIS) is to acquire an India-based manufacturer of automotive boots with the aim of strengthening its presence in the country's fast-growing light vehicles market.
The to-be-acquired operation is part of Injectoplast, a privately owned company with head office and manufacturing capacity in Kanpur, northern India.
The unit, said Trelleborg, is a "market leader" close to a light vehicle manufacturing cluster in Kanpur, and has annual sales of SEK70 million (€6.5 million).
“We note a highly favourable sales trend for our automotive boots, and at the same time, we have had a relatively low presence and sales in the Indian market,” said Jean-Paul Mindermann, TIS president.
“As our business successes are based on proximity to our customers, this acquisition is strategically important,” Mindermann explained.
Automotive boots comprise a dynamic sealing system, which seal vehicle drive shafts and prevent the ingress of contaminants such as salt, water, or dust particles.
The products, which are typically manufactured from thermoplastic elastomers, are found in all types of passenger car, including hybrid and electric vehicles.
Trelleborg expects the transaction to be finalised in the first quarter of 2023.