Trelleborg has signed an agreement to acquire ČGS Holding - a privately-owned company with leading positions in agricultural and specialty tires as well as engineered polymer solutions. The total cash consideration amounts to approximately 10.9 billion Swedish crowns (more than 1.1 billion euros) on a cash and debt-free basis. ČGS is headquartered in the Czech Republic and generated sales of approximately 5,525 billion Swedish crowns (almost 600 million euros) in the rolling 12-months period ended 30 June, 2015. Closing of the transaction is subject to approvals from relevant competition authorities and is expected to be completed in the first half of 2016.
With the acquisition of ČGS and its subsidiary Mitas, Trelleborg is establishing itself as a global leader in agricultural tires and reinforces its leading position in industrial tires. As a result of the acquisition, Trelleborg Wheel Systems will almost double its revenues, broaden its geographical reach and add new positions in complementary tire niches. Mitas is performing strongly despite the current downturn in the agricultural market. Moreover, the acquisition of ČGS’s other industrial polymer businesses will enhance Trelleborg’s leading positions in several of the Group’s existing business areas.
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