Trelleborg to buy South Korean AVS component maker

TRELLEBORG, Sweden (April 23)—Trelleborg A.B. has agreed to buy 51 percent of Kunhwa Co. Ltd. of Daegu, South Korea, a maker of anti-vibration and other automotive components. The deal, for an undisclosed price, represents a strategic geographic strengthening for Trelleborg Automotive, according to President George Caplea. "As a result of the acquisition, a solid platform is created for sales of thermoplastic boots to Korean and Japanese automobile manufacturers," Caplea said in a prepared statement. "We will benefit from an enhanced presence as a supplier to the increasingly important Korean automotive industry." Kunhwa has annual sales of about $23.5 million, with 218 employees and one factory. The takeover is expected to be completed during May after South Korean authorities provide formal approval, Trelleborg said.