The Courant reports, “A New Haven coated fabric manufacturer will be acquired by a large Swedish polymer engineering firm, the company announced Monday. Trelleborg AB has signed an agreement to acquire Uretek LLC and its Massachusetts sister company Archer Rubber Company LLC for an undisclosed sum.
“The acquired businesses have superior technical knowledge with focused R&D and product development, in addition to solid partnerships with customers. The acquisition complements our existing business in engineered fabrics and broadens our product range in North America,”
Trelleborg Coated Systems President Dario Porta said in a written statement. Uretek, which had 160 employees last year, specializes in urethane-coated fabrics used in diving suits, airships, flame retardant clothing, thermal packs and inflatable slides for aircraft. It also is a supplier for New Balance, which won in April a battle to supply athletic shoes to U.S. military recruits. Based in Milford, Mass., the Archer Rubber Company manufacturers rubber-coated fabrics. Together, the two acquired companies had sales of $65 million last year, Trelleborg said.
Trelleborg AB, which is buying the companies through its subsidiary Trelleborg Coated Systems, employs about 15,000 and had $3.3 billion in sales last year. The transaction is subject to regulatory approval and is expected to close in the third quarter of 2014, the company said.”