Yokohama Rubber Co has completed the acquisition of Sweden-based Trelleborg Wheel Systems, a division of the larger Trelleborg organisation in a deal valued at approximately €2.156bn.
Peter Nilsson, President and CEO of Trelleborg Group said: “The Group’s tire operation has been part of Trelleborg since the beginning in 1905. The decision to divest Trelleborg Wheel Systems was therefore not an easy one.
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“I would like to extend a big and heartfelt thank you to all employees in the business area and wish them and Yokohama Rubber every success in their new corporate constellation,” he said, adding that the cash from the divestment would be used to build a stronger core business.
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