Mr Ulf Berghult, CFO, Trelleborg Group
The global engineering group focused on polymer technology, Trelleborg AB, says it has signed an agreement and finalized the divestment of its Swedish and Estonian operations that manufacture moulded components, a business unit within the reporting segment Businesses Under Development.
Trelleborg announced in an April 23 press release that the operations are being acquired by the current management of the business unit. The divestment is in line with the Sweden-based group’s strategy to focus on selected market segments.
The divested operations develop and manufacture various types of moulded products, which are sold mainly to local and regional customers.
Ulf Berghult, CFO and overall responsible for Businesses Under Development, said the group had evaluated various strategic alternatives for these moulded component operations for a while and that it soon became clear that a sale to the management team was the best option. “With the divestment, we focus further on our core businesses,” he explained.
The divested operations, which had annual sales of approximately SEK 250 million ($24.8 million) last year were deconsolidated on April 22, 2020. Trelleborg said the transaction would have only a minor positive impact on net profit.