TRELLEBORG, Sweden (Feb. 16, 2010)—Trelleborg Wheel Systems S.p.A.'s sales jumped 17 percent in the fourth quarter thanks to higher agricultural sector demand, but the weak first half held fiscal 2010 sales on par with 2009.
The company also reported it has completed its purchase of Watts Tyre Group for $32 million.
Trelleborg Wheel reported a 7.1-percent drop in fiscal 2010 operating income to $36.9 million on sales of $414.7 million. Sales were neutral with 2009 as exchange-rate changes offset revenue gains, the firm said.
The company said in its fiscal 2010 report it is focusing on improving its position as a complete supplier through geographical expansion and increasing its presence in growing markets, primarily in Asia.
Overall, parent Trelleborg A.B. reported markedly improved operating income of $286 million on 9.8-percent better sales of $3.82 billion. Net income improved threefold to $180.3 million.