Trelleborg acquires leading supplier of composite hoses
Trelleborg has, through its Trelleborg Industrial Solutions business area, signed an agreement and finalized the acquisition of the Dutch company, Gutteling Group BV. The company develops and sells composite hoses to the chemical industry and is the market leader in hoses for Liquefied Natural Gas (LNG) ship-to-ship transfer. The acquisition complements Trelleborg’s industrial hose, and specifically, composite hose, offering. Composite hoses are mainly used for aggressive chemicals, such as chlorine, sulfuric acid, biofuels and LNG.
Gutteling has its head office and production in Rotterdam, the Netherlands, with production in the Czech Republic, as well as a sales office in the US. Total sales amounted to about SEK 115 M in 2020.
“I am delighted to welcome Gutteling to Trelleborg. We have a long-standing business relationship and recognize the company as an innovative supplier of high-quality hoses and fittings for demanding environments. The addition of Gutteling reinforces our position as a system provider in LNG transfer, while also strengthening us in the aftermarket. We can also see sales synergies between the company and our existing composite hose offering,” says Jean-Paul Mindermann, President of the Trelleborg Industrial Solutions business area.
The transaction will be consolidated as of March 4, 2021.
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 about SEK 33 billion and operations in about 50 countries. The Group comprises three business areas: Trelleborg Industrial Solutions, Trelleborg Sealing Solutions and Trelleborg Wheel Systems, and a reporting segment, Businesses Under Development. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap.
