STOCKHOLM, Sweden, Nov. 15, 2002 (PRIMEZONE) -- Through its Engineered Systems business area, the Trelleborg Group (Other OTC:TBABF) (Stockholm:TRELb) has signed an agreement to acquire the operations of Seaward International Inc., one of the largest producers of marine fender systems in the United States.
Seaward International Inc., a global leader in floating fenders, has annual sales of approximately SEK 200 M, with 60 employees at two manufacturing facilities in Winchester, Virginia.
"This transaction is supportive of and strengthens the Trelleborg strategic goals of being the worldwide leader in marine fender products, and provides Seaward with significant growth opportunities in the international market," said Georg Brunstam, President of Trelleborg Engineered Systems Business Area.
The acquisition of Seaward's operations will take the form of an asset- transfer transaction. It is expected that the operations will be taken over at the beginning of December 2002.
Further information can be obtained from:
Trelleborg Engineered Systems President, Georg Brunstam +46 (0) 410 512 51, alt. 0708 55 12 51 Trelleborg Senior Vice president, Corporate Communications, Mikael Bystrom +46 (0) 410-670 37, 0708-552169
Trelleborg is a global industrial group. Operations are based on spearhead competence within polymer materials and a high level of industrial know-how, combined with functional solutions and systems designed to meet the needs of our customers. The Trelleborg Group has annual sales of SEK 18 billion, with approximately 15,000 employees in 40 countries. Trelleborg consists of four business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems and Trelleborg Building Systems. The Trelleborg share has been quoted on the A-list of the Stockholm Exchange since 1964. www.trelleborg.com
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