TRELLEBORG, Sweden—Trelleborg Group has signed an agreement to divest a Czech operation in technical rubber products, the group announced Aug. 2.
With its main business located in Nachod, northern Czech Republic, the business had been listed among Trelleborg's assets for sale and is being acquired by local investment group Kaprain.
Trelleborg did not disclose the terms of the agreement but said the operation had annual sales of $65 million in 2020.
According to Trelleborg, the divested operation manufactures a broad range of engineered polymer products, such as V-belts, specialty molded components for general industry, and inflatable rubber dams for infrastructure. It also undertakes rubber compounding activities and manufactures bicycle tires and tubes.
"Our review of the operation showed that it would require a strategy shift, necessitating additional investments," President and CEO Peter Nilsson said.
"We have improved the operation in a satisfactory manner, generating enhanced profitability, and now it can be further developed by a new owner that has a stronger regional focus," he added.
The transaction is expected to be finalized at the end of the third quarter or beginning of the fourth quarter 2021.
