TRELLEBORG, Sweden (Sept. 22)—Regulatory authorities in the U.S. and Europe have approved Trelleborg Group's acquisition of Smiths Group P.L.C.'s precision seal business, clearing the way for the $795 million deal to be completed by the end of September. The Smiths Group division, which does business as Forsheda, Busak+Shamban, Dowty and Shamban, generated $670 million in sales last year, with operations located principally in Europe and North America. Three-fourths of its sales and personnel are located in Europe. Trelleborg will run the acquired operations as a new business area, Polymer Sealing Solutions, representing nearly 25 percent of the Swedish firm's sales.
Authorities OK Trelleborg's acquisition of Smiths' precision seal business
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