Trelleborg buys out agricultural tire joint venture

STOCKHOLM, Sweden (July 3)—Trelleborg A.B. has exercised its option to acquire 100-percent control of Trelleborg Wheel Systems S.p.A., the 60-40 agricultural tire joint venture it set up nearly three years ago with Pirelli S.p.A. Terms of the deal were not released. Tivoli, Italy-based Trelleborg Wheel Systems now will operate as a wholly owned subsidiary of Trelleborg, the company said. As part of the deal, Trelleborg secured rights to the Pirelli trademark for the farm and forestry markets, a spokesman said. Trelleborg Wheel Systems, which also includes Trelleborg's industrial tire and wheel businesses, reported sales of $330 million last year, with an estimated 55 percent coming from the farm/forestry tire sector. The plant in Tivoli employs 460, and reports capacity of 900 units a day. Trelleborg said it believes it is the No. 3 agricultural tire maker in Europe, including being No.1 or co-No. 1 in forestry tires.