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Trelleborg divests offshore oil & gas operation in the US

The Trelleborg Group is divesting a US offshore oil & gas operation, an industry where Trelleborg divested the majority of its operations in 2021. The divested operation, which is part of the Trelleborg Industrial Solutions business area, reported annual sales of approximately SEK 30 M in 2022. The divestment will contribute positively to cash flow but entail a non-cash capital loss of approximately SEK 90 M, which will be recognized as a non-recurring cost in the fourth quarter of 2023.
 
Located in Toledo, Ohio in the US, the operation develops and manufactures primarily ceramic macrospheres and buoyancy modules for use in offshore oil & gas extraction. The buyer is the is a company active in offshore oil & gas.
 
“We are pleased that we have found a new owner that we know well and who wants to continue developing operations,” says Peter Nilsson, President and CEO of Trelleborg.

Contacts
Media: Vice President Communications Tobias Rydergren, +46 (0)410 67015, +46 (0)733 747015, tobias.rydergren@trelleborg.com
Investors/analysts: Vice President IR Christofer Sjögren, +46 (0)410 67068, +46 (0)708 665140, christofer.sjogren@trelleborg.com

About Us
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. In 2022, The Trelleborg Group had annual sales of approximately SEK 30 billion in around 40 countries. The Group comprises two business areas: Trelleborg Industrial Solutions and Trelleborg Sealing Solutions. The Trelleborg share has been listed on the Stock Exchange since 1964 and is listed on Nasdaq Stockholm, Large Cap. www.trelleborg.com 

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Trelleborg divests offshore oil & gas operation in the US

Datum 2023-11-27, kl 11:45
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Trelleborg divests offshore oil & gas operation in the US
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