Trelleborg and Freudenberg have completed the formation of the joint venture in antivibration solutions for light and heavy vehicles, TrelleborgVibracoustic.
“I am very pleased that the joint venture now is operational. We have formed a global leader in antivibration solutions, a growing segment within the automotive industry,” said president and CEO Peter Nilsson. “Trelleborg as a group will consequently be part of an operation with even higher growth and profitability potential than the antivibration operation we had before. It will create greater value.”
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The joint venture combines Trelleborg’s earlier operation and Freudenberg’s corresponding operation, Vibracoustic. At year-end 2011/2012, combined annual sales were approximately SEK13.4bn (US$2.5bn), of which Trelleborg accounted for around SEK7.1bn.
Nilsson is chairman of the supervisory board. The management board consists of Jim Law and Lennart Johansson, both also from Trelleborg, and Hans-Jürgen Goslar and Norbert Schebesta, both from the Vibracoustic management board. Spokesman for TrelleborgVibracoustic is Hans-Jürgen Goslar.
Trelleborg’s participation in the 50/50 joint venture is recognised in annual accounts using the equity method.
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