TRELLEBORG, Sweden (June 1, 2010)—Trelleborg A.B. has agreed to sell its automotive fluid solutions operation to Bavaria Industriekapital A.G., of Munich, Germany, for about $38 million.
The company said about $25.6 million of the sale price will be cash and cash equivalents, and the divestment will result in an accounting capital loss for Trelleborg of about $19.2 million after tax.
Fluid Solutions has about 1,900 employees and operations in France, Italy, Poland, Slovakia, Spain, the Czech Republic, Turkey and Germany. Fluid Solutions manufactures components such as hoses for engine-cooling and air-supply systems. The operations had sales of about $166 million in 2009 and recorded a loss.
The deal is expected to be comcluded during second quarter 2010.