TRELLEBORG, Sweden—Trelleborg A.B. has divested three molded component production sites in Sweden and Estonia as part of a strategy to focus on selected market segments.
The divestment was completed April 22.
Together, the facilities—located in Oerebro and Havdhem, Sweden, and Kuressaare, Estonia—employ 240 people.
The divested units had combined annual sales of about $25.7 million in 2019, Trelleborg said, adding that the transaction would have "a minor positive impact" on the group's net profit.
The three plants previously were part of Trelleborg Industrial Solutions before they were transferred to the "businesses under development" reporting segment for low-profit businesses at the start of the year, a Trelleborg spokeswoman noted in a written statement.
"They manufacture a wide range of customized polymer solutions with a focus on molded components to industries like the food industry, general industry, mining, automotive, agriculture and forestry," a written statement read.
The products, she added, include technical rollers, rubber and polyurethane wear parts, and vacuum rings.
"We have, for a while, evaluated various strategic alternatives for these molded component operations. It soon became clear that a sale to the management team was the best option," said Chief Financial Officer Ulf Berghult, who is responsible for businesses under development.