TRELLEBORG
Acquisition of CGS for EUR 1.2 bn / Czech tyre specialist will strengthen positions in a number of areas
Swedish industrial group Trelleborg (Trelleborg; www.trelleborg.com) is to acquire CGS (Prague / Czech Republic; www.cgs.cz) – a privately owned producer of agricultural, industrial and speciality tyres and engineered polymer solutions – for SEK 10.9 bn (EUR 1.17 bn). CGS generated sales of around SEK 5.6 bn (EUR 600m) with an EBIT margin of 16% in the 12 months ended June 2015.
Peter Nilsson, president and CEO of Trelleborg, said: “CGS, with its strong and favourably performing operations in agricultural and industrial tyres (...) will strengthen and complement Trelleborg’s already leading positions in a number of existing areas.”
CGS employs 6,300 people and has 13 production sites, of which 11 are located in central and eastern Europe, with one in the US and one in Mexico. The group includes subsidiaries Mitas, Rubena and Savatech. Mitas accounts for around two thirds of group sales and has strong mid-market speciality tyre brands with a particularly strong position in agricultural tyres.
Peter Nilsson, president and CEO of Trelleborg, said: “CGS, with its strong and favourably performing operations in agricultural and industrial tyres (...) will strengthen and complement Trelleborg’s already leading positions in a number of existing areas.”
CGS employs 6,300 people and has 13 production sites, of which 11 are located in central and eastern Europe, with one in the US and one in Mexico. The group includes subsidiaries Mitas, Rubena and Savatech. Mitas accounts for around two thirds of group sales and has strong mid-market speciality tyre brands with a particularly strong position in agricultural tyres.
19.11.2015 Plasteurope.com [232706-0]
Published on 19.11.2015
German version of this article...