Trelleborg completes acquisition of automotive parts manufacturer
Acquired Indian business located close to automotive manufacturing hub in Kanpur
Trelleborg, Sweden – Trelleborg Industrial Solutions (TIS) has completed the acquisition of an India-based manufacturer of automotive boots, Trelleborg announced 25 May.
The operation is part of Injectoplast, a privately owned company with head office and manufacturing capacity in Kanpur, northern India.
As first announced last November, the purchase is intended to strengthen Trelleborg's presence in India's fast-growing market for light vehicles.
With annual sales of SEK70 million (€6.5 million), the acquired unit is a "market leader" located close to a light vehicle manufacturing cluster in Kanpur,
“We note a highly favourable sales trend for our automotive boots," TIS president Jean-Paul Mindermann said in the initial announcement.
At the same time, he noted that the Trelleborg unit has a "relatively low" presence and sales in the Indian market.
“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.