STOCKHOLM, Sweden (April 11, 2012)—Trelleborg A.B. plans to sell its protective products business to Ansell Ltd. for about $32 million.
The transaction is expected to close in the second quarter. The two companies also reached a long-term agreement covering the supply of polymer-coated fabrics from Trelleborg.
Trelleborg Protective Products employs about 170, has annual sales in the $25 million range, is based in Stockholm and has a plant in Lithuania. It operates sales offices in the U.S., Sweden, Norway, Dubai, Russia, Singapore and China.
The business unit, which is part of Trelleborg Engineered Systems, produces high end protective suits, professional dry diving suits, escape hoods and tent/shelters for first responders, military, medical, aerospace and industrial. Most feature polymer-coated fabrics. About two-thirds of its sales are in Europe.
Trelleborg is selling the operation to focus on its core businesses. Red Bank, N.J.-based Ansell is buying it because the unit fits well with the firm's Specialty Markets and Industrial businesses. It's also looking to expand its Personal Protective Equipment unit.