Bli medlem
Bli medlem

Du är här

2016-05-31

TRELLEBORG: Trelleborg's acquisition of CGS Holding finalized

Trelleborg has finalized the acquisition of CGS Holding a.s. - a
privately-owned company with leading positions in agricultural,
industrial and specialty tires as well as engineered polymer
solutions. The total cash consideration amounted to approximately SEK
10.9 billion on a cash and debt-free basis. CGS is headquartered in
the Czech Republic and generated sales of approximately SEK 5.6
billion in 2015 with an operating margin of 16.5 percent.

"It is highly gratifying to welcome CGS to the Trelleborg Group. The
company has long been on our list of interesting acquisitions. The
acquisition means that Trelleborg will almost double its sales in
agricultural tires, strengthen its leading position in industrial
tires and add new positions in complementary specialty tires
segments. CGS's engineered polymer solutions add new interesting
positions as well as strengthen Trelleborg's existing leading
positions in several of the Group's current business areas," says
Peter Nilsson, President and CEO of Trelleborg.

CGS Holding includes the businesses Mitas, Rubena and Savatech. Mitas
accounts for approximately two-thirds of group sales and has strong
mid-market specialty tires brands with a particularly strong position
within agricultural tires. The offering of specialty tires is
complemented by Rubena's and Savatech's niche engineered polymer
solutions businesses, including seals, sealing profiles, specialty
molded products, printing blankets and other engineered fabrics.

"We are convinced the agricultural market will recover, enabling us to
benefit from an attractive footprint when it does. Accordingly, we
consider the purchase consideration to be attractive considering the
expected synergies and the future recovery of the agricultural
market," concludes Peter Nilsson.

Mitas will be integrated into the Trelleborg Wheel Systems business
area. During transition, other operations will be independent from
Trelleborg's existing operations before being gradually integrated
into current business areas.

Following the acquisition, Trelleborg will have sales of about SEK 30
billion, with about 23,000 employees in 47 countries.

The transaction will be consolidated from May 31, 2016. Non-recurring
costs of approximately SEK 70 million, related to the acquisition,
will be charged to the second quarter of 2016. Of this amount, about
SEK 50 million will be charged against reported operating income and
about 20 million will be charged to net financial items. No PPA
effects are included in the above amounts.

The press release regarding the acquisition was published on November
9, 2015.

For further information, please contact:
Media: Vice President Media Relations Karin Larsson, 46 (0)410 67015,
46 (0)733 747015, karin.larsson@trelleborg.com

Investors/analysts: Vice President IR Christofer Sjögren, 46 (0)410
67068, 46 (0)708 665140, christofer.sjogren@trelleborg.com

This is information of the type that Trelleborg AB (publ) is obligated
to disclose in accordance with the Swedish Securities Exchange and
Clearing Operations Act and/or the Financial Instruments Trading Act.
The information was issued for publication on May 31, 2016, at 3:45
p.m. CET.

Trelleborg is a world leader in engineered polymer solutions that
seal, damp and protect critical applications in demanding
environments. Its innovative engineered solutions accelerate
performance for customers in a sustainable way. The Trelleborg Group
has annual sales of about SEK 30 billion in over 40 countries. The
Group comprises five business areas: Trelleborg Coated Systems,
Trelleborg Industrial Solutions, Trelleborg Offshore & Construction,
Trelleborg Sealing Solutions and Trelleborg Wheel Systems, and the
operations of Rubena and Savatech. In addition, the Trelleborg Group
owns 50 percent of Vibracoustic, the global market leader within
antivibration solutions for light and heavy vehicles. The Trelleborg
share has been listed on the Stock Exchange since 1964 and is listed
on Nasdaq Stockholm, Large Cap.

www.trelleborg.com
-----------------------------------------------------------
http://news.cision.com/trelleborg/r/trelleborg-s-acquisition-of-cgs-hold...
http://mb.cision.com/Main/584/2020476/522889.pdf

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.