Trelleborg AB is a global engineering group focused on polymer technology, with headquarters in Trelleborg, Sweden, with 16,701 employees and with yearly revenue of 30.1 billion SEK as of 2022. It became a public company in 1964 and currently trades on the Nasdaq Stockholm as a large cap component. It has operations in 40 countries and describes its mission as the development of "engineered polymer solutions that seal, damp and protect critical applications in demanding environments".
 | |
 Headquarters in Trelleborg, Sweden | |
| Company type | Public (Aktiebolag) |
|---|---|
| Nasdaq Stockholm: TREL B | |
| Industry | Polymer engineering |
| Founded | 1905 |
| Founders |
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| Headquarters | Trelleborg, Sweden |
Area served | Worldwide |
Key people |
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| Revenue | 30.1 billion kr (2022) |
6,475,000,000 Swedish krona (2022)  | |
Number of employees | 16,701 (2022) |
| Divisions |
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| Website | trelleborg |
History edit
The company was founded in 1905 as "Trelleborgs Gummifabriks AB" (the Rubber Factory Corporation of Trelleborg) by Henry Dunker and Johan Kock, who were both already active in the rubber industry. Initially, the company had 150 employees and produced bicycle tires and rubber for industrial applications. During World War I, the Swedish Armed Forces placed substantial orders.
By the mid 1930s, the number of employees had reached 1,000. Beginning in the 1950s, the share of revenue from sales outside of Sweden increased; in 1950, it was 4%, and in 1970, it was 40%. In 1964, Trelleborgs Gummifabriks AB was floated at the Stockholm Stock Exchange. The current name was adopted in 1977.
Between 1983 and 1991, the strategy was to act as a wide-ranging industrial conglomerate, with a particular focus on mining and metals. Later, the company's focus returned to rubber products. In 1999, the scope was further narrowed by specializing in industrial applications. In 2003, polymer-based precision seals were added to the product offerings.
In 2009 the European Commission fined several marine hose producers, among them Trelleborg AB, "...for participating in a cartel for marine hoses between 1986 and 2007 in violation of the ban on cartels and restrictive business practices in the EC Treaty (Article 81) and the EEA Agreement (Article 53)."[1] In mid 2012, Trelleborg and Freudenberg formed a 50–50 joint venture in antivibration applications for light and heavy vehicles, TrelleborgVibracoustic.
In summer 2016, Trelleborg divested all of its shares to Freudenberg and that concluded the Automotive antivibration journey.[2] In August 2022, it was announced Trelleborg had acquired the Lindau-based aerospace interiors company, MG Silikon GmbH, an entity within Saint-Gobain Group.[3] In October 2022, Trelleborg acquired US-based company, Minnesota Rubber & Plastics, from private equity firm KKR for US$950 million.[4] In March 2022 the Group signed an agreement to divest the Trelleborg Wheel Systems business area to Yokohama Rubber Company. The divestment is expected to be finalized during the first half of 2023.
Operations edit
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Trelleborg AB is divided into the following business areas:[5]
- Trelleborg Industrial Solutions (hose systems, industrial antivibration solutions[buzzword] and selected industrial sealing systems)
- Trelleborg Sealing Solutions (precision seals for industry, aviation and vehicles) – Founded in 1952, Trelleborg Sealing Solutions was previously a part of the Smiths Group's precision seals business. This business, Polymer Sealing Solutions, consisted of four rubber units. These were Busak+Shamban, Dowty Automotive, Shamban and Forsheda. In 2003, Polymer Sealing Solutions was acquired by Trelleborg AB. The name Busak+Shamban remained with all marketing locations, but the manufacturing locations became known as Trelleborg Sealing Solutions. As of April 2, 2007, the Busak+Shamban name was retired, with all locations being brought under the Trelleborg Sealing Solutions umbrella.
Market edit
Trelleborg AB was in 2018, according to Rubber & Plastics News, the third-largest player in the world market for non-tire rubber products.[6]
| Ranking by sales | Company | Country |
|---|---|---|
| 1 | Continental AG | Germany |
| 2 | Hutchinson SA | France |
| 3 | Trelleborg AB | Sweden |
| 4 | Freudenberg Group | Germany |
| 5 | Bridgestone | Japan |
| 6 | NOK Inc. | Japan |
| 7 | Tokai Rubber Industries | Japan |
| 8 | Pinafore Holdings B.V. | United Kingdom |
| 9 | Cooper-Standard Automotive | United States |
| 10 | Parker Hannifin | United States |
The net sales for 2022 had the following geographical distribution:[7]
| Region | Share of sales |
|---|---|
| Europe | 46% |
| North and South America | 33% |
| Asia and other markets | 21% |
Ownership edit
The 10 largest shareholders of Trelleborg AB, as of December 31, 2018:[8]
| No | Shareholder | Percent of share capital | Percent of votes |
|---|---|---|---|
| 1 | Dunker Fund & Foundations[a] | 10.66% | 54.10% |
| 2 | Capital Group | 4.34% | 2.23% |
| 3 | Vanguard | 3.17% | 1.63% |
| 4 | Allianz Global Investors | 3.02% | 1.55% |
| 5 | Lannebo Fonder | 2.92% | 1.50% |
| 6 | Handelsbanken Fonder | 2.79% | 1.43% |
| 7 | Swedbank Robur Fonder | 2.40% | 1.23% |
| 8 | Tweedy, Browne | 1.79% | 0.92% |
| 9 | Bank Norwegian | 1.78% | 0.91% |
| 10 | Folksam | 1.69% | 0.87% |
- ^ All of the Series A shares are owned by the Dunker Funds and Foundations, which were created through testamentary disposition by the founder of the Helsingborg and Trelleborg rubber-production plants, Henry Dunker.
Governance edit
Since April 27, 2023, Johan Malmquist has been Chairman of Trelleborg AB. The following table lists the chairmen in chronological order since the company was founded.
| Period | Chairman |
|---|---|
| August 24, 1905 – December 18, 1909 | Gustaf Lagergren |
| December 19, 1909 – May 1, 1945 | Johan Kock |
| May 2, 1945 – May 3, 1962 | Henry Dunker |
| May 17, 1962 – May 24, 1965 | Lars Gunnar Ohlsson |
| May 25, 1965 – May 25, 1970 | Hadar Hallström |
| May 26, 1970 – May 17, 1976 | Lars Gunnar Ohlsson |
| May 18, 1976 - May 30, 1985 | Åke Ståhlbrandt |
| May 31, 1985 – May 30, 1990 | Ernst Herslow |
| May 31, 1990 – April 23, 2002 | Rune Andersson |
| April 24, 2002 – April 23, 2013 | Anders Narvinger |
| April 24, 2013 – April 25, 2018 | Sören Mellstig |
| April 26, 2018 – April 27, 2023 | Hans Biörck |
| April 27, 2023 – | Johan Malmquist |
Since October 1, 2005, Peter Nilsson has been president and CEO of Trelleborg AB. The following table lists the presidents and CEOs in chronological order since the company was founded.
| Period | President and CEO |
|---|---|
| August 24, 1905 – May 17, 1947 | Henry Dunker |
| September 1, 1939 – July 21, 1949 (at the time, the law permitted appointment of more than one CEO) | Hilding Ståhlbrandt |
| August 29, 1949 – May 17, 1976 | Åke Ståhlbrandt |
| May 18, 1976 – April 30, 1983 | Arne Lundqvist |
| May 1, 1983 – May 30, 1990 | Rune Andersson |
| May 31, 1990 – January 26, 1999 | Kjell Nilsson |
| January 27, 1999 – February 8, 1999 | Hans Porat (temporary) |
| February 9, 1999 – September 30, 2005 | Fredrik Arp |
| October 1, 2005 – | Peter Nilsson |
References edit
- ^ "Press corner | European Commission".
- ^ [1] History
- ^ Diaconu, Cristina (2022-08-01). "Trelleborg Acquires Manufacturer of Aerospace Components". Manufacturing & Engineering. Retrieved 2022-08-01.
- ^ "Trelleborg finalises acquisition of Minnesota Rubber & Plastics". Med-Tech Innovation. 2022-11-01. Retrieved 2022-11-01.
- ^ [2] Organization
- ^ Bruce Meyer (2011). "Rankings". Rubber & Plastics News (July 18). Crain Communications: 12.
- ^ [3] Annual Report
- ^ Ownership structure