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Trelleborg (company)
Trelleborg AB is a multi-national engineering company specializing in polymer technology, headquartered in Trelleborg, Sweden.[2] It designs and manufactures seals, hoses, antivibration solutions, and other industrial products. As of 2023, the company employs 15,646 people and generates annual revenues of 34 billion SEK. The company, which became public in 1964, currently trades on Nasdaq Stockholm. HistoryThe company was founded in 1905 as "Trelleborgs Gummifabriks AB" (the Rubber Factory Corporation of Trelleborg) by Henry Dunker and Johan Kock, who were both already active in the rubber industry. Initially, the company had 150 employees and produced bicycle tires and rubber for industrial applications. During World War I, the Swedish Armed Forces placed substantial orders.[citation needed] By the mid-1930s, the number of employees had reached 1,000. Beginning in the 1950s, the share of revenue from sales outside of Sweden increased; in 1950, it was 4%, and in 1970, it was 40%. In 1964, Trelleborgs Gummifabriks AB was floated at the Stockholm Stock Exchange. Its current name was adopted in 1977.[citation needed] Between 1983 and 1991, the strategy was to act as a wide-ranging industrial conglomerate, with a particular focus on mining and metals. Later, the company's focus shifted back to rubber products. In 1999, the scope was further narrowed by specializing in industrial applications. In 2003, polymer-based precision seals were added to the product offerings. [citation needed] In 2009, the European Commission fined several marine hose producers, among them Trelleborg AB, "...for participating in a cartel for marine hoses between 1986 and 2007 in violation of the ban on cartels and restrictive business practices in the EC Treaty (Article 81) and the EEA Agreement (Article 53)."[3] In mid-2012, Trelleborg and Freudenberg formed a 50–50 joint venture in anti-vibration applications for light and heavy vehicles, TrelleborgVibracoustic. Trelleborg divested its shares in this venture to Freudenberg in 2016.[4] In 2022, Trelleborg acquired the Lindau-based aerospace interiors company, MG Silikon GmbH, an entity within Saint-Gobain Group, [5] and the US-based company Minnesota Rubber & Plastics from private equity firm KKR for US$950 million.[6] CriticismTrelleborg Group faced criticism for its activities in Russia following the 2022 invasion of Ukraine. The company initially pledged to suspend deliveries and sales to Russia. However, reports indicated that sales continued until February 2023, contradicting their earlier commitment.[7] OperationsTrelleborg AB is divided into the following business areas:[8]
MarketTrelleborg AB was in 2018, according to Rubber & Plastics News, the third-largest player in the world market for non-tire rubber products.[9]
The net sales for 2022 had the following geographical distribution:[10]
OwnershipThe 10 largest shareholders of Trelleborg AB, as of December 31, 2023:[11]
GovernanceSince April 27, 2023, Johan Malmquist has been Chairman of Trelleborg AB. The following table lists the chairmen in chronological order since the company was founded.
Since October 1, 2005, Peter Nilsson has been president and CEO of Trelleborg AB. The following table lists the presidents and CEOs in chronological order since the company was founded.
References Wikimedia Commons has media related to Trelleborg AB.
Information related to Trelleborg (company) |
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