Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
Trelleborg has finalised its acquisition of leading agricultural, industrial and specialty tyre manufacturer, CGS Holding as. The total cash consideration amounted to approximately 10.9 billion Swedish krona (approximately £0.91 billion) on a cash and debt-free basis. CGS is headquartered in the Czech Republic and generated sales of approximately SEK 5.6 billion (£0.47 billion) in 2015 with an operating margin of 16.5 percent. The Czech company also produces engineered polymer solutions.