TRELLEBORG
Follow-up: Sale of “Fluid Solutions” automotive division wrapped up / New company called Tristone Flowtech
In line with its earlier plans – see Plasteurope.com of 11.06.2010 – Swedish industrial group Trelleborg (Trelleborg; www.trelleborg.com) wrapped up the sale of its “Fluid Solutions” division at the beginning of July, after the German cartel authorities gave their blessing to the takeover by Bavaria Industriekapital (Baikap, Munich / Germany; www.baikap.de).
The group said the division will be renamed TriStone Flowtech and will be based in Mannheim / Germany. Bavaria added that it will continue the restructuring efforts brought underway by the previous management and is planning to expand operations of the largely European business to North America and Asia. In addition the new TriStone Flowtech, which will continue to be led by CEO Anders Grahn, will begin seeking a new customer base outside the automotive sector.
In the wake of the divesture, Trelleborg will focus on its remaining automotive activities in sound and vibration insulation.
The group said the division will be renamed TriStone Flowtech and will be based in Mannheim / Germany. Bavaria added that it will continue the restructuring efforts brought underway by the previous management and is planning to expand operations of the largely European business to North America and Asia. In addition the new TriStone Flowtech, which will continue to be led by CEO Anders Grahn, will begin seeking a new customer base outside the automotive sector.
In the wake of the divesture, Trelleborg will focus on its remaining automotive activities in sound and vibration insulation.
13.07.2010 Plasteurope.com [216760]
Published on 13.07.2010