Trelleborg's acquisition of CGS Holding finalized
The European-based Trelleborg has finalized the acquisition of CGS Holding, which will almost double its sales in agricultural tires and add to the company's market share of industrial tires and specialty tires worldwide.
CGS Holding was a privately-owned company with products in agricultural, industrial and specialty tires as well as engineered polymer solutions. CGS is headquartered in the Czech Republic and reportedly was doing business with a good operating margin of 16.5 percent.
"It is highly gratifying to welcome CGS to the Trelleborg Group. The company has long been on our list of interesting acquisitions. The acquisition means that Trelleborg will almost double its sales in agricultural tires, strengthen its leading position in industrial tires and add new positions in complementary specialty tires segments. CGS's engineered polymer solutions add new interesting positions as well as strengthen Trelleborg's existing leading positions in several of the group's current business areas," said Peter Nilsson, President and CEO of Trelleborg.