STOCKHOLM, Sweden, April 7, 2005 (PRIMEZONE) -- Trelleborg Wheel Systems, a business area within the Trelleborg Group, has signed a joint-venture agreement with Al Dobowi Ltd regarding the distribution of industrial and agricultural tires in the Middle East and certain parts of Africa. The new company, Trelleborg Wheel Systems Middle East Ltd will be located in Dubai, in the United Arab Emirates.
Trelleborg will own 49 percent of operations and Al Dobowi 51 percent. It is estimated that the company will initially generate sales of approximately SEK 15 M annually.
Al Dobowi is a well-established distributor of tires in the Middle East and already distributes Trelleborg's industrial tires in the region.
"This joint venture strengthens Trelleborg Wheel Systems' distribution operations in the Middle East, an important growth market and logistics hub," says Maurizio Vischi, Business Area President Trelleborg Wheel Systems. "Through a closer relationship with our distributor, we expect to achieve increased coverage in this attractive market."
Further information can be obtained from Trelleborg's Senior Vice president, Corporate Communications, Mikael Bystrom, +46 (0)410-670 37, +46 (0)708-552169 or from Viktoria Bergman, Vice President, Corporate Communications, +46 (0)410-67094, +46 (0)708-475733.
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 23 billion, with about 22,000 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.
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