In an interview published by the Trelleborg Group today, company president and chief executive officer Peter Nilsson has shared that, according to Trelleborg’s own assessment, its acquisition of Mitas parent company the CGS Holding will result in synergies of around SEK 400 million (£34.8 million) up to 2020. “These are mainly cost synergies, but also a great deal of sales synergies,” he added. “The estimate could be conservative and is based on how the market looks today. If there is a rise in demand, then sales synergies, above all, will increase.”
The Trelleborg Group has appointed Paolo Pompei as the new business area president of Trelleborg Wheel Systems as of 1 April, 2017. He will succeed Maurizio Vischi, who is retiring. Like his predecessor, Paolo will be a member of Trelleborg Group Management. Pompei, born in 1971, has worked at Trelleborg Wheel Systems in various management positions since 1999, and for the past number of years has been in charge of the global operations of agricultural tyres.
Sweden’s Trelleborg AB reports that net sales within its Trelleborg Wheel Systems business rose 79 per cent year-on-year in the third quarter of 2016 to SEK 1.86 billion (£179.2 million); the full consolidation of CGS during the quarter contributed to 78 per cent of this growth, with organic sales increasing by just one per cent.
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.
Sweden’s Trelleborg AB reports that organic sales within its Trelleborg Wheel Systems business decreased by six per cent year-on-year in 2015, despite a four per cent rise in overall sales. Organic sales were pushed downwards by agriculture-related sales, which were impacted by markedly lower agricultural machinery production levels. The organic sales trend for tyres for materials handling vehicles was slightly negative for the full-year. Total net sales increased 3.6 per cent to SEK 4.3 billion (£349 million).
Trelleborg has signed an agreement to acquire the Czech Republic’s CGS Holding a.s. for approximately 10.9 billion Swedish Krona (£830 million) on a cash and debt-free basis. The privately-owned company is active in the agricultural and specialty tyre business segments, including the strong Mitas tyre brand, as well as engineered polymer solutions. Closing of the transaction is subject to approvals from relevant competition authorities and is expected to be completed in the first half of 2016.
Sweden’s Trelleborg AB has reported a 5.8 per cent increase in net sales in the third quarter of 2013, with acquired business contributing some two per cent towards this result. Company president and CEO Peter Nilsson commented that Trelleborg “achieved these healthy earnings despite weaker market trends for several market segments and thus a slight fall-off in organic growth.”
Sweden’s Trelleborg AB states that its net sales increased two per cent year-on-year in the second quarter of 2014 to SEK 5,725 million (£490.5 million) despite a one per cent decline in organics sales. Operating profit, excluding the company’s items affecting comparability, rose by 11 per cent to SEK 802 million (£68.7 million), equivalent to an operating margin of 14.0 per cent and the group’s highest ever for a single quarter. Earnings per share rose 38 percent to SEK 1.95 (£0.17) while operating cash flow amounted to SEK 539 million (£46.2 million).