STOCKHOLM, Sweden—Trelleborg A.B. and Delmon Industrie S.A. have finalized the sale of Trelleborg Industrial Solutions' light vehicle rubber boot business to Delmon for an undisclosed amount.
Delmon is purchasing the operation, called Trelleborg Inepsa, to enlarge its customer footprint, gain industrial know-how, and benefit the firm's other businesses, a company spokesman said.
Trelleborg is selling it because the company wants to focus on its thermoplastic elastomer boot business, which is growing, said Mikael Frylund, president of Trelleborg Industrial Solutions, a business unit within Trelleborg.
Included in the sale is a plant in Pamplona, Spain, which has a work force of about 150. Delmon plans to retain the employees, at least for the time being, and the factory.
Sales from the operation amounted to about $20.6 million in 2013 and will only be a negligible impact on Trelleborg's earnings.