Trelleborg, through its Trelleborg Engineered Systems business area, has signed an agreement to acquire PPL Polyurethane Products Ltd., which has annual sales of approximately SEK 90 M and about 90 employees.
PPL Polyurethane Products is based in the UK and develops, manufactures and markets a broad portfolio of polyurethane-based solutions and products, with a focus on the offshore oil/gas and infrastructure segments. The products that PPL Polyurethane Products manufactures include bend stiffeners and cable protection products for offshore oil/gas and damping solutions in the infrastructure area, primarily for railroads. The company has offices and production facilities in Retford and Coventry, in the UK.
"The company has had a solid trend for both growth and profitability and in recent years, it has developed attractive positions in the offshore oil/gas and infrastructure segments," says Lennart Johansson, President of the Trelleborg Engineered Systems business area. "PPL Polyurethane Products is one of the leading companies in the UK for products based on polyurethane for offshore oil/gas and infrastructure."
"The acquisition complements our product portfolio and generates the possibility of future growth. This also creates favorable opportunities for synergies, in terms of both costs and marketing, in that we will be able to broaden our offering in a number of niches."
The acquisition is expected to be completed during the first quarter of 2011.