STOCKHOLM, Sweden—Trelleborg A.B. has finalized the acquisition of CGS Holding a.s., the Czech Republic-headquartered parent of Mitas a.s., Rubena a.s. and Savatech d.o.o.
Mitas, the biggest business within the CGS group, will become part of Trelleborg Wheel Systems. Rubena and Savatech will remain independent from Trelleborg's existing operations before being gradually integrated into some of the company's business areas.
Headquartered in the Czech Republic, Mitas is a global manufacturer of agricultural, industrial and specialty tires. A spokeswoman said Mitas accounts for about two thirds of CGS' sales and has strong mid-market specialty tire brands with a particularly strong position in agricultural tires.
Rubena and Savatech develop and manufacture a broad range of engineered polymer products, including seals, sealing profiles, specialty conveyor belts, offset printing blankets and engineered fabrics, molded goods, and other goods.
“It is highly gratifying to welcome CGS to the Trelleborg group,” said Peter Nilsson, president and CEO of Trelleborg. “The company has long been on our list of interesting acquisitions. The acquisition means that Trelleborg will almost double its sales in agricultural tires, strengthen its leading position in industrial tires and add new positions in complementary specialty tires segments.”