GOTHENBURG, Sweden—A.B. Svenskt Konstsilke (SKS) is making a move to increase its production capacity with the purchase of assets from a facility in Virginia.
The Swedish producer of single-end cords for tire and mechanical rubber goods reinforcement has acquired the assets from Mehler Engineered Products Group's Martinsville, Va., plant—a move projected to add 3,000 metric tons of single end cords capacity annually.
The asset acquisition closed Nov. 20. The deal includes a fully functional and equipped laboratory inside Mehler's 153,500-sq.-ft. facility, the company said, as well as multiple dipping lines, twisting machines and winders.
SKS CEO Urban Olsson said that the acquisition is a step forward for the company's manufacturing centers around the world. Specifically, the assets will go toward production at SKS facilities in Estonia, China, and Mexico.
"This is a good step forward for SKS," Olsson said in a statement. "By integrating these assets into our global operations, we're not only increasing capacity but also improving flexibility and efficiency. It's all about delivering the best solutions for our customers."
SKS officials touted the immediate future as a time of growth for SKS at large. Already having doubled its sales since 2021, the acquisition looks to continue the Swedish company's year-over-year growth.
"This remarkable achievement reflects the company's focus on innovation, operational excellence and meeting customer needs with high-quality, reliable solutions," the company said.