SWEDEN: Trelleborg to buy Svytis' protective suits business
Industrial group Trelleborg has agreed to buy protective suits business UAB Trella from Lithuanian company Svytis.
Since 2003, Svytis has manufactured and sewn protective suits for Trelleborg Protective Products. The company is privately held and was established in 1993.
The unit has annual sales of SEK23m (US$3.20m) and 60 employees at a production facility located in Tauragé in southwestern Lithuania.
"We view this as an aggressive move that enables continued profitable growth within the field of protective products," said Lennart Johansson, BA president Trelleborg Engineered Systems.
"We have enjoyed truly fruitful cooperation with Svytis during the past few years, and have been impressed by its high quality and delivery precision. Protective products and other products for extreme environments require highly specific know-how. As a result of this acquisition, we are solidifying our competitiveness and move forward our positions for organic growth."
Trelleborg expects to complete the acquisition on 31 July 2006.
Trelleborg Protective Products, which is part of Business Area Trelleborg Engineered Systems, develops and markets protective products for extreme environments - including chemical protective suits under the Trellchem brand and dry diving suits under the Viking brand.
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