Trelleborg has signed an agreement to divest its oil & gas operation in
The operation mainly develops and manufactures rubber-based fire protection solutions and thermal insulation used in offshore oil & gas extraction.
"When a strategic review was conducted of the business unit at the end of 2019 it became clear that a divestment was the best alternative for us and for this oil & gas operation. Today, it is therefore satisfying to communicate the transaction. At the same time, it must be emphasized that the other parts of the Group that develop, manufacture and sell products and solutions for the oil & gas industry, are in niches where we want to continue to maintain a presence and where we hold leading positions. This mainly pertains to safety-critical seals, hose systems, bearings solutions and various safety solutions for LNG," says
The transaction is expected to be finalized in the second quarter of 2021.
For further information, please contact:
Media: Vice President Media Relations
Investors/analysts: Vice President IR Christofer Sjögren, +46 (0)410 67068, +46 (0)708 665140, christofer.sjogren@trelleborg.com
Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative solutions accelerate performance for customers in a sustainable way.
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