STOCKHOLM, Sweden, Oct. 01, 2003 (PRIMEZONE) -- The Trelleborg Group's (Other OTC:TBABF) acquisition of Polymer Sealing Solutions (PSS), the precision seal division of Smiths of the UK, has now been completed. PSS has annual sales of approximately SEK 5.5 billion and some 6,000 employees. The Trelleborg Group will thereby have total sales of approximately SEK 22.5 billion with about 21,000 employees in some 40 countries.
The operations will form a new business area within Trelleborg, named Trelleborg Sealing Solutions.
Claus Barsoee, 54, has been appointed President of the business area. For many years, Claus Barsoee worked within Busak+Shamban/Polymer Sealing Solutions, and in recent years, he has been responsible for Polymer Sealing Solutions' largest business unit, Industrial Marketing Europe, which has sales of approximately SEK 3 billion.
The business area's organization will be established within the next month.
"The acquisition of PSS further strengthens Trelleborg," says President and CEO Fredrik Arp. "PSS complements our operations in an excellent manner, with new product areas and partly new customer categories while, at the same time, we share a foundation of expertise in polymer technology. Building on our new structure, we will now focus on creating synergies and further growth."
Trelleborg Sealing Solutions develops, manufactures and markets security- critical polymer-based precision seals and systems. The business area operates primarily within four market segments -- industrial applications, the automotive industry, the aerospace industry and pipe seals. In each of these four market segments, PSS is one of the three market leaders either in Europe or the US. PSS also holds a market leading position in the industrial segment in Europe.
Date for release of next interim report: As previously announced in the printed six-month report and on Trelleborg's website, the Trelleborg Group's third quarter report for 2003 will be presented on Monday, October 20, 2003.
A photograph of Claus Barsoee for publication is available at www.trelleborg.com, under Press Room, Image Archive.
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 approximately SEK 22.5 billion, with about 21,000 employees in 40 countries. Trelleborg consists of five business areas: Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, Trelleborg Building Systems and Trelleborg Sealing Solutions. The Trelleborg share has been quoted on the A list of Stockholmsborsen since 1964. www.trelleborg.com
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