Trelleborg Group has signed an agreement to sell its Trelleborg Wheel Systems unit to Yokohama Rubber Co. Ltd. The deal, which includes Trelleborg's tire business, is expected to close during the latter part of 2022.
"Under Trelleborg’s ownership, Trelleborg Wheel Systems has during the past few years more than doubled in size and substantially increased its profitability, growing its business through important acquisitions and strategic investments, building a strong and attractive company in the off-highway business," Trelleborg said in a statement.
"The acquisition of Trelleborg Wheel Systems, will enable Yokohama Rubber to consolidate its leading position among tire producers in the world, becoming a global leader in the off-highway segment, covering different market needs in the agricultural, construction, material handling, mining and two-wheel market segments, with the addition of (the) Trelleborg, Mitas, Maximo, Cultor and Interfit brands to its portfolio."
