Polymer supplier Trelleborg Group has, through its business area Trelleborg Industrial Solutions, signed an agreement to acquire an operation specialising in automotive boots for the fast-growing Indian light vehicles market. The operation is part of the India-based privately owned company Injectoplast. The acquisition means that Trelleborg further strengthens its globally leading market position in automotive boots.
The company has its head office and manufacturing in Kanpur, in the north of India, close to a light vehicle manufacturing cluster, and has annual sales of approximately SEK70 million.
“We note a highly favourable sales trend for our automotive boots, and at the same time, we have had 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 and enables us to better support our global customers. The acquired operation produces high quality products in a state-of-the-art facility for the attractive Indian market,” says Jean-Paul Mindermann, President of the Trelleborg Industrial Solutions business area.
Automotive boots comprise a dynamic sealing system, manufactured from thermoplastic elastomers, which seal vehicle drive shafts and prevent the ingress of contaminants such as salt, water, or dust particles. Boots are found in all passenger cars, including hybrid and electric cars.
The transaction is expected to be finalised in the first quarter of 2023. Terms were not disclosed.