Trelleborg is to acquire ČGS Holding, which owns the more widely-known Mitas tire brand and several others. Total cash consideration amounts to approximately Skr10.9bn on a cash and debt-free basis, with the transaction expected to be complete in the first half of 2016.
“I am very proud to announce this highly complementary acquisition, which is a significant and attractive add-on to our existing businesses. ČGS, with its strong and well performing operations in agricultural and industrial tires and engineered polymer solutions, will strengthen and complement Trelleborg’s already leading positions in a number of existing areas,” said Peter Nilsson, president and CEO, Trelleborg.
Meanwhile, from January 2016, Mitas Premium tires are substituting Continental rear radial agricultural tires in the replacement market. These will be gradually available worldwide for purchase from local Mitas dealers. They are said to bear the same premium quality and technical specifications as Continental tires, which Mitas has manufactured under license since 2004.
November 12, 2015