TRELLEBORG, Sweden—Trelleborg Group signed an agreement to divest its Czech-based operation for the manufacture of automotive antivibration components.
The antivibration unit, located in Hradec Kralove, will be acquired by Kaprain, a Czech investment group. Last year, the antivibration unit reported annual sales of $44.5 million (SEK 450 million) and made "a minor loss," Trelleborg said in an Oct. 25 press release.
The operation develops and manufactures primarily antivibration systems for the chassis and engines of light and heavy automotive vehicles, the company said. Trelleborg largely withdrew from the automotive antivibration components segment in 2016 with the divestment of its shares in Vibracoustic.
"Antivibration solutions for automotive light and heavy vehicles is not a core business for us," said Trelleborg President and CEO Peter Nilsson. He added that Kaprain "wants to develop the operation further with a clearer regional focus."
According to Trelleborg, the divestment is expected to be finalized during the fourth quarter of 2023.
