STOCKHOLM, Sweden—Trelleborg A.B. and Delmon Industrie S.A. have reached an agreement under which Delmon will purchase Trelleborg's rubber boot operation in Spain for an undisclosed amount.
The divestment does not affect Trelleborg's thermoplastic elastomer boots operations, the company said. The rubber boots are primarily used on light vehicles.
It said it is selling the business because market demand for TPE boots is increasing while rubber boot demand is shrinking.
“We believe a new owner of the operation is better placed to develop it and able to supplement shrinking production of rubber boots with new products, to maintain the operation in Spain,” said Mikael Fryklund, president of the Trelleborg Industrial Solutions business.