Strengthens position in precision seals for life science industry
Global engineering group Trelleborg has through its Sealing Solutions business agreed to buy certain operations of Silcotech Group for SEK300m (€33.4m) in a move that will strengthen its position in precision seals for the life sciences.
The operation, which has total sales of SEK200m and some 150 staff, focuses on precision seals and components in liquid silicone, primarily for the pharmaceutical industry and medical technology sector, but also used in certain critical electronic applications.
The Silcotech Group is privately owned and has a manufacturing operation in Stein am Rhein in Switzerland and joint venture operations in Pernik, Bulgaria and Huizhou, in southern China. The acquisition encompasses the entire operation in Switzerland, including the manufacturing plant, and 50% of the joint venture in Bulgaria, with an option to acquire the remaining share, plus an option to acquire the majority share of the joint venture in China.
‘This acquisition strengthens our product portfolio and improves our position in this area,’ said Claus Barsøe, president of the Trelleborg Sealing Solutions business area. ‘It also provides good potential for synergies in terms of sales, enabling us almost immediately to offer Silcotech’s solutions to certain existing customers.’
The addition of Silcotech also expands Trelleborg’s expertise in cleanroom manufacturing of silicon components for the pharmaceutical and medical technology sectors in a highly automated environment.
The deal should be finalised during the second quarter 2011.