BANGALORE, India (March 31, 2008) — Trelleborg has agreed to acquire the remaining 20 percent interest in Trelleborg Sealing Solutions India it doesn't own.
Trelleborg said the deal is part of its investment in Asia, where it considers India one of the key markets.
Trelleborg has held a majority share in the Bangalore-based company since it bought Polymer Sealing Solutions in 2003. The unit has about 120 employees and annual sales of about $11.8 million, and comprises a marketing company and a production unit that manufactures seals for the Indian, other Asian and the European markets.
The company didn't disclose who owns the remaining 20-percent stake in the Indian company.