TRELLEBORG, Sweden--(BUSINESS WIRE)--Regulatory News:
Trelleborg (STO:TRELB) has signed a final agreement with Freudenberg to sell its shares in Vibracoustic to Freudenberg. The finalization of the transaction is expected in the second quarter of 2016, subject to the approval from relevant authorities.
Vibracoustic will, from the first quarter of 2016, be reported as Asset Held for Sale. In the Income Statement for previous periods, the associate income from Vibracoustic will be restated as Discontinuing Operations.
A press release about the agreement in principle between the parties was communicated on April 7, 2016.
Trelleborg is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments. Its innovative solutions accelerate performance for customers in a sustainable way. The Trelleborg Group has annual sales of SEK 25 billion in over 40 countries. The Group comprises five business areas: Trelleborg Coated Systems, Trelleborg Industrial Solutions, Trelleborg Offshore & Construction, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. In addition, Trelleborg owns 50 percent of Vibracoustic, the global market leader within antivibration solutions for light and heavy vehicles, with annual sales of SEK 18 billion in about 20 countries. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.www.trelleborg.com
This is information of the type that Trelleborg AB (publ) is obligated to disclose in accordance with the Swedish Securities Exchange and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was issued for publication on April 15, 2016, at 4:00 p.m. CET.
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