COVENTRY, England (Nov. 16, 2007) — Trelleborg A.B.'s Coventry, England, operations — part of Trelleborg Automotive UK — is set to be taken over by the company's management during the fourth quarter of 2007.
The divestment of the plant, which primarily produces air springs, is part of Trelleborg's efforts to focus on core automotive operations, according to Roger Johansson, area president of Trelleborg Automotive.
The facility employs about 110. It recorded sales of $23.7 million in 2006 and reported a loss.
Trelleborg estimates the divestment will cause a capital loss of $15 million before taxes but will ultimately have a positive impact of $2.4 million in cash flow.