TRELLEBORG, Sweden (Oct. 29, 2010)—Trelleborg A.B. reported double-digit earnings and sales growth during the quarter ended Sept. 30.
Trelleborg, parent of agricultural and industrial tire and wheel maker Trelleborg Wheel Systems, said it experienced higher earnings despite rising raw materials costs.
For the quarter, Trelleborg's operating income rose 43 percent to $80.9 million on 10.2-percent higher sales of $1.02 billion. Net income jumped 51.1 percent to $52.7 million.
Trelleborg Wheel Systems' operating income rose 48.1 percent to $11.4 million, while sales increased 16.2 percent to $108.7 million. Trelleborg chalked up the higher sales to increased demand from tractor and materials-handling equipment makers. The business unit said its focus on larger ag tires contributed to increased market share.
For the nine-month period, Trelleborg's operating and net income more than doubled to $252.1 million and $162.4 million, respectively, and sales rose 8.7 percent to $3.11 billion.
Trelleborg Wheel Systems' operating income for the nine months slipped 10.5 percent to $31.5 million, and sales also were off, by 4.7 percent to $334.4 million.