Swedish engineered polymer solutions company Trelleborg Group is divesting a Czech operation in technical rubber products. The buyer is a Czech investment group, Kaprain. The transaction is expected to be finalised at the end of the third quarter or the beginning of the fourth quarter 2021.
The divested operation, which undertakes rubber compounding activities and develops and manufactures a broad range of engineered polymer products, such as V-belts, specialty moulded components for general industry, inflatable rubber dams for infrastructure, and bicycle tyres and tubes, reported annual sales of approximately SEK 560 million in 2020. The sale, according to Trelleborg, does not have any material impact on the Group’s net profit.
Peter Nilsson, President and CEO of Trelleborg Group commented: “Our review of the operation showed that it would require a strategy shift, necessitating additional investments to enable the development of the business in a way that would be relevant to Trelleborg in the long term.”