TRELLEBORG, Sweden (July 21)—Trelleborg A.B. will acquire Smiths Group P.L.C.'s Polymer Sealing Solutions business for $787.6 million. PSS develops, manufactures and markets security-critical polymer-based precision seals and systems for pipe seals and industrial, automotive and aerospace applications. The unit has annual sales of about $668.6 million and 6,000 employees, mainly in Europe and North America, Trelleborg said. Following the acquisition, Trelleborg expects its annual sales to reach $2.73 billion. The purchase should result in about $12.1 million in savings once the full impact has been achieved after three years. The deal, subject to approval of the relevant authorities, is expected to be completed by the end of the third quarter.