Trelleborg AB is a multi-national engineering company specializing in polymer technology, headquartered in Trelleborg, Sweden. It designs and manufactures seals, hoses, antivibration solutions, and other industrial products. As of 2023, the company employs 15,646 people and generates annual revenues of 34 billion SEK. The company, which became public in 1964, currently trades on Nasdaq Stockholm.

Trelleborg AB
Company typePublic (Aktiebolag)
Nasdaq StockholmTREL B
IndustryPolymer engineering
Founded1905; 119 years ago (1905)
Founders
  • Henry Dunker
  • Johan Kock
Headquarters
Trelleborg, Sweden
Area served
Worldwide
Key people
  • Johan Malmquist (Chairman)
  • Peter Nilsson (President and CEO)
Products Seals, Hoses, Antivibration Solutions, Fenders
Revenue34 billion kr (2023)[1]
7,368,000,000 Swedish krona (2023) Edit this on Wikidata
10,075 million kr (2023)[1]
Total equity41,727 million kr (2023)[1]
Number of employees
15,646 (2023)[1]
Divisions
  • Trelleborg Industrial Solutions
  • Trelleborg Sealing Solutions
  • Trelleborg Medical Solutions
Websitetrelleborg.com

History

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The company was founded in 1905 as "Trelleborgs Gummifabriks AB" (the Rubber Factory Corporation of Trelleborg) by Henry Dunker and Johan Kock, who were both already active in the rubber industry. Initially, the company had 150 employees and produced bicycle tires and rubber for industrial applications. During World War I, the Swedish Armed Forces placed substantial orders.

By the mid-1930s, the number of employees had reached 1,000. Beginning in the 1950s, the share of revenue from sales outside of Sweden increased; in 1950, it was 4%, and in 1970, it was 40%. In 1964, Trelleborgs Gummifabriks AB was floated at the Stockholm Stock Exchange. Its current name was adopted in 1977.

Between 1983 and 1991, the strategy was to act as a wide-ranging industrial conglomerate, with a particular focus on mining and metals. Later, the company's focus returned to rubber products. In 1999, the scope was further narrowed by specializing in industrial applications. In 2003, polymer-based precision seals were added to the product offerings.

In 2009 the European Commission fined several marine hose producers, among them Trelleborg AB, "...for participating in a cartel for marine hoses between 1986 and 2007 in violation of the ban on cartels and restrictive business practices in the EC Treaty (Article 81) and the EEA Agreement (Article 53)."[2]

In mid-2012, Trelleborg and Freudenberg formed a 50–50 joint venture in antivibration applications for light and heavy vehicles, TrelleborgVibracoustic. Trelleborg divested its shares in this venture to Freudenberg in 2016.[3]

In 2022, Trelleborg acquired the Lindau-based aerospace interiors company, MG Silikon GmbH, an entity within Saint-Gobain Group,[4] and the US-based company Minnesota Rubber & Plastics from private equity firm KKR for US$950 million.[5]

Operations

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Trelleborg AB is divided into the following business areas:[6]

  • Trelleborg Industrial Solutions (hose systems, industrial antivibration solutions and selected industrial sealing systems)
  • Trelleborg Sealing Solutions (precision seals for industry, aviation and vehicles) – Founded in 1952, Trelleborg Sealing Solutions was previously a part of the Smiths Group's precision seals business. This business, Polymer Sealing Solutions, consisted of four rubber units. These were Busak+Shamban, Dowty Automotive, Shamban and Forsheda. In 2003, Polymer Sealing Solutions was acquired by Trelleborg AB. The name Busak+Shamban remained with all marketing locations, but the manufacturing locations became known as Trelleborg Sealing Solutions. As of April 2, 2007, the Busak+Shamban name was retired, with all locations being brought under the Trelleborg Sealing Solutions umbrella.
  • Trelleborg Medical Solutions – A global supplier of polymer-based integrated solutions for medical devices and biopharma

Market

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Trelleborg AB was in 2018, according to Rubber & Plastics News, the third-largest player in the world market for non-tire rubber products.[7]

Ranking by sales Company Country
1 Continental AG Germany
2 Hutchinson SA France
3 Trelleborg AB Sweden
4 Freudenberg Group Germany
5 Bridgestone Japan
6 NOK Inc. Japan
7 Tokai Rubber Industries Japan
8 Pinafore Holdings B.V. United Kingdom
9 Cooper-Standard Automotive United States
10 Parker Hannifin United States

The net sales for 2022 had the following geographical distribution:[8]

Region Share of sales
Europe 46%
North and South America 33%
Asia and other markets 21%

Ownership

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The 10 largest shareholders of Trelleborg AB, as of December 31, 2023:[9]

No Shareholder Percent of share capital Percent of votes
1 Henry Dunker Donation Fund & Foundations[a] 11.33% 55.78%
2 Allianz Global Investors 4.97% 2.48%
3 Capital Group 4.15% 2.07%
4 Vanguard 3.31% 1.65%
5 Swedbank Robur Funds 2.65% 1.32%
6 Handelsbanken Funds 2.15% 1.07%
7 Norges Bank 1.84% 0.92%
8 Lannebo Funds 1.79% 0.89%
9 BlackRock 1.73% 0.87%
10 Folksam 1.61% 0.80%
  1. ^ All of the Series A shares are owned by the Dunker Funds and Foundations, which were created through testamentary disposition by the founder of the Helsingborg and Trelleborg rubber-production plants, Henry Dunker.

Governance

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Since April 27, 2023, Johan Malmquist has been Chairman of Trelleborg AB. The following table lists the chairmen in chronological order since the company was founded.

Period Chairman
August 24, 1905 – December 18, 1909 Gustaf Lagergren
December 19, 1909 – May 1, 1945 Johan Kock
May 2, 1945 – May 3, 1962 Henry Dunker
May 17, 1962 – May 24, 1965 Lars Gunnar Ohlsson
May 25, 1965 – May 25, 1970 Hadar Hallström
May 26, 1970 – May 17, 1976 Lars Gunnar Ohlsson
May 18, 1976 - May 30, 1985 Åke Ståhlbrandt
May 31, 1985 – May 30, 1990 Ernst Herslow
May 31, 1990 – April 23, 2002 Rune Andersson
April 24, 2002 – April 23, 2013 Anders Narvinger
April 24, 2013 – April 25, 2018 Sören Mellstig
April 26, 2018 – April 27, 2023 Hans Biörck
April 27, 2023 – Johan Malmquist

Since October 1, 2005, Peter Nilsson has been president and CEO of Trelleborg AB. The following table lists the presidents and CEOs in chronological order since the company was founded.

Period President and CEO
August 24, 1905 – May 17, 1947 Henry Dunker
September 1, 1939 – July 21, 1949 (at the time, the law permitted appointment of more than one CEO) Hilding Ståhlbrandt
August 29, 1949 – May 17, 1976 Åke Ståhlbrandt
May 18, 1976 – April 30, 1983 Arne Lundqvist
May 1, 1983 – May 30, 1990 Rune Andersson
May 31, 1990 – January 26, 1999 Kjell Nilsson
January 27, 1999 – February 8, 1999 Hans Porat (temporary)
February 9, 1999 – September 30, 2005 Fredrik Arp
October 1, 2005 – Peter Nilsson

References

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  1. ^ a b c d "Annual Report 2023" (PDF). Trelleborg AB. Retrieved 29 May 2024.
  2. ^ "Press corner | European Commission".
  3. ^ [1] History
  4. ^ Diaconu, Cristina (2022-08-01). "Trelleborg Acquires Manufacturer of Aerospace Components". Manufacturing & Engineering. Retrieved 2022-08-01.
  5. ^ "Trelleborg finalises acquisition of Minnesota Rubber & Plastics". Med-Tech Innovation. 2022-11-01. Retrieved 2022-11-01.
  6. ^ [2] Organization
  7. ^ Bruce Meyer (2011). "Rankings". Rubber & Plastics News (July 18). Crain Communications: 12.
  8. ^ [3] Annual Report
  9. ^ Ownership structure