Trelleborg finalizes Coors Tek acquisition
Resource from: Rubber News Likes:353
Dec 23,2016
EL SEGUNDO, Calif.—Trelleborg Sealing Solutions has finalized the acquisition of a Coors Tek Inc. subsidiary that is aimed at strengthening the company's presence in North America and in the aircraft industry.
A Trelleborg A.B. business, Trelleborg Sealing Solutions has been building its operation in the region steadily in the last several years. It's the second purchase the company has made in the U.S. in the last three months.
Its latest acquisition, called Coors Tek El Segundo, specializes in the manufacturing of precision seals and bearings made from high performance polymers and metals for aerospace applications. Located in El Segundo, the subsidiary had sales $12.4 million in 2015.
"The U.S./North America is a growth market for Trelleborg and we foresee that the market will grow based on our present operations and on recent acquisitions in the country," according to a spokeswoman at Trelleborg A.B.'s headquarters in Stockholm, Sweden.
She said the Coors Tek name will be changed into Trelleborg and it will become part of Trelleborg Sealing Solutions.
The acquired business operates a 30,660-sq.-ft. plant in El Segundo, she said, and it will be integrated into Trelleborg Sealing Solutions Americas. She said it will operate out of its the facility with its existing work force of about 90 people.
"We have come to understand the importance of implementing enhanced manufacturing and engineering infrastructures worldwide that mirror the complex needs of aerospace customers no matter where they reside," said Michel Prouff, director of global marketing for aerospace.
He said that by continually expanding the company's international logistic capabilities, "we can ensure advanced delivery and offer the best engineering products that leverage 60 years of global aerospace experience.
"This acquisition further equips Trelleborg Sealing Solutions to maintain its leadership position in elastomer, polytetrafluoroethylene-based and airframe seals. Additionally, it brings some interesting spring-energized sealing solutions to its growing portfolio."
In September, Trelleborg Sealing Solutions finalized the acquisition of privately owned U.S.-based Anderson Seal L.L.C.
The business specializes in the distribution and service of seals, gaskets and custom-molded products for original equipment manufacturers in several industries. The acquisition will increase Trelleborg's presence in the Midwestern U.S.
Anderson Seal has offices and a warehouse in New Berlin, Wis. The firm's sales totaled about $15.7 million in 2015. The bolt-on acquisition is part of Trelleborg's strategy to strengthen its positions in attractive market segments, the company said.
"We believe that our sealing operations will continue to grow in the U.S. both structurally, thanks to recent acquisitions, and organically," the spokeswoman said.
(Rubber News)
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