Swedish industrial group Trelleborg (Trelleborg; www.trelleborg.com) has completed its SEK 10.9 bn (EUR 1.17 bn) acquisition of CGS Holding (Prague / Czech Republic; www.cgs.cz) – a privately-owned company with leading positions in agricultural, industrial, speciality tyres and engineered polymer solutions. The deal was initially announced in November 2015 – see Plasteurope.com of 19.11.2015.
Peter Nilsson, Trelleborg president and CEO, said: “It is highly gratifying to welcome CGS to the Trelleborg Group. The company has long been on our list of interesting acquisitions. (…) CGS’s engineered polymer solutions add new interesting positions as well as strengthen Trelleborg’s existing leading positions in several of the group’s current business areas.
CGS Holding includes the businesses Mitas, Rubena and Savatech. Mitas accounts for approximately two-thirds of group sales, which totalled around SEK 5.6 bn in the 12 months ended June 2015, and has strong mid-market speciality tyre brands. Mitas will be integrated into the Trelleborg wheel systems business area. During the transition, other activities will remain independent from Trelleborg’s existing operations before being gradually integrated into current business areas.
Following the acquisition, Trelleborg will have sales of about SEK 30 bn, with around 23,000 employees in 47 countries.
