PERNIK, Bulgaria—Trelleborg A.B., through its Trelleborg Sealing Solutions business unit, has acquired the outstanding 50 percent of the shares in Trelleborg Sealing Solutions Silcotech Bulgaria.
Trelleborg had the option to acquire those shares as part of its agreement to purchase the Silcotech Group in 2011 for about $42 million.
The main focus of the facility in Pernik is the production of precision molded seals in liquid silicone rubber for various industries, including baby care and food processing.
In a statement, company said the transaction is part of Trelleborg's strategy to strengthen its positions in several attractive market segments.
Since its acquisition of the Silcotech Group in 2011, Trelleborg has made several investments in its life sciences operations. They include expanding production capacity in Switzerland and establishing a new full-scale production unit in the U.S
Trelleborg engineers polymer solutions that seal, damp and protect critical applications in demanding environments. The Trelleborg Group has annual sales of about $2.6 billion and operates in more than 40 countries.