Trelleborg Acquires Lutz Sales Inc.
Strengthens Its Presence in the North American Market for Precision Seals
Trelleborg, through its business area Trelleborg Sealing Solutions, has signed an agreement to acquire the U.S. company Lutz Sales Inc., a privately owned distributor. Lutz has yearly sales of approximately SEK 100 M and approximately 50 employees.
Lutz Sales has its headquarters and warehouse in the Chicago area. The company is a distributor of a broad range of precision seals and customer-specific rubber components into the North American market. The company has a broad and well-established customer base and is primarily strong within the food and beverage and pharmaceutical industries.
"Lutz Sales has shown a solid development and is a well-managed company," says Claus Barsoe, President of the Business Area Trelleborg Sealing Solutions. "The acquisition strengthens Trelleborg Sealing Solutions' presence in the North American market. It broadens our product offering and our customer base in this region."
The acquisition is expected to be completed during the fourth quarter of 2010.
Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and in-depth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group had annual sales during 2009 of approximately SEK 27 billion, with about 20,000 employees in 40 countries. The Group comprises four business areas: Trelleborg Engineered Systems, Trelleborg Automotive, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and is listed on the OMX Nordic List, Large Cap. www.trelleborg.com