TRELLEBORG, Sweden (March 14, 2011)—Trelleborg A.B. has agreed to buy the surface and deep-sea oil hose business of a Veyance Technologies Inc. subsidiary in Brazil.
The deal is being made through the firm's Trelleborg Engineered Systems business. Trelleborg said it will pay about $6.33 million the business—operated by Veyance Technologies do Brasil Produtos de Engenharia Ltda.—and invest $3.95 million in it.
The business operates a plant is located in Santana de Parnaiba, close to Sao Paulo. Trelleborg will take over the lease on the facility and assume responsibility for the 100 employees.
Lennart Johansson, president of Trelleborg Engineered Systems, said the acquisition complements its technology in oil hoses, making it a good fit in Brazil and globally.