Trelleborg and Freudenberg form a global joint venture in automotive antivibration solutions
Trelleborg and Freudenberg have agreed to form a joint venture to produce antivibration solutions for light and heavy vehicles. At year-end 2010, the total annual sales of the entities that are to form the joint venture were estimated at EUR 1.2 billion, with 8,100 employees in 17 countries. Completion of the transaction is subject to the approval of the relevant competition authorities.
Trelleborg is a global engineering group and has a leading position in developing high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group had annual sales in 2010 of approximately SEK 27 billion, with about 20,000 employees in 40 countries. The company’s share is listed on NASDAQ OMX Stockholm.
Freudenberg is a diversified group of companies developing sealing and damping products, filters, nonwoven fabrics, surface treatment, separating agents, special lubricants and medical-technical products. The family-owned group has 34,000 employees in 59 countries around the world.
Trelleborg was advised by Mannheimer Swartling in the transaction. The firm’s team was led by Oliver Cleblad, primarily assisted by Nelli Schiebeler, Jens Engelmann-Pilger, Philipp Schön and Thilo Schulz, with Andreas Elving and Sabrina Wang advising on Chinese aspects of the transaction. Peter Linderoth advised on financing matters related to the joint venture assisted by Susanne Forsberg.