Trelleborg has announced a €2.1bn deal to sell its Trelleborg Wheels Systems (TWS) business to Yokohama Rubber Company.

The move sees the Yokohama Rubber Company add the Swedish-based group’s Trelleborg, Mitas, Maximo, Cultor and Interfit brands to its agricultural and construction portfolio, having made an offer for TWS during the last quarter of 2021.

The Yokohama Rubber Company’s off highway brands currently include the Alliance, Galaxy and Primex brands.

Sales

Under Trelleborg’s ownership, TWS is claimed to have doubled in size over the past few years, while having increased sustainability and profitability.

The group’s strong European sales network is believed to strengthen Yokohama’s position in Japanese, North American and Asian markets.

Employing over 6,750 staff TWS has a total of 14 manufacturing facilities, seven of which are in Europe (Italy, Czech Republic, Latvia, Serbia, and Slovenia), two in the US, four in Asia (China and Sri Lanka) and one in Brazil.

Of its tyre division, agricultural tyres are believed to have accounted for 60% of the company’s production.

The Trelleborg group will retain its Industrial Solutions and Sealing Solutions businesses, with the sale said to significantly lower the groups CO2 footprint.

Although the sale is expected to be complete by the end of the year, the future of the TWS brand names currently remains unknown.