Trelleborg is to acquire Metzeler Automotive Hose Systems, a division of Metzeler Automotive Profile Systems, for 31 million Euros.
Metzeler Automotive Hose manufactures hoses for a wide range of automotive applications, from coolant and heating systems, to charge air systems and fuel lines.
Metzeler has annual sales of approximately 64 million Euros and employs around 850 people. With headquarters in Mannheim, Germany, it has three production facilities in Poland, the Czech Republic and Italy, as well as sales offices in the UK and France.
The acquisition is expected to have a positive effect on Trelleborg’s earnings during 2004.
Trelleborg Automotive, a supplier of antivibration and flow-system products, primarily to the light vehicles industry, will have annual sales of approximately 1,050 million Euros after the acquisition and employ around 9,250 employees in 14 countries on four continents.
Organisationally, the division of Metzeler will form part of Trelleborg’s Fluid Systems business unit.
The completion of the acquisition, expected at the end of the year, is conditional on the approval of the relevant competition authorities.