Trelleborg, Sweden – Trelleborg AB has finalised the divestment of its oil & gas operation in Norway, the Swedish group announced 1 June.
The operation, which was catagorised as “businesses under development” in last year’s restructuring programme, was bought by the current management together with a local partner.
The business had sales of approximately SEK310 million (€30 million) last year, according to Trelleborg.
The operation mainly develops and manufactures rubber-based fire protection solutions and thermal insulation used in offshore oil & gas extraction.
The divestment follows Trelleborg’s sale of its offshore operation in Skelmersdale, in north west England, in early March.