Following last year’s announcement of an acquisition agreement, Trelleborg Wheel Systems has announced its acquisition by The Yokohama Rubber Co., Ltd. has been successfully completed for 2,074 million Euros, or approximately $2.27 billion.
The company added that it is now officially part of The Yokohama Rubber Co., Ltd., operating under the name “Yokohama TWS."
The Yokohama Rubber Co., Ltd., based in Hiratsuka, Japan, is a global leader in the tire industry and other rubber applications, such as conveyor belts, hoses & couplings, and fenders. With 860.5 billion yen in revenues (approx. 6 billion euro), The Yokohama Rubber Co., Ltd. is a truly international concern, employing over 28,000 people around the globe and operating in more than 120 countries.
This acquisition enables The Yokohama Rubber Co., Ltd. to consolidate its leading position among tire producers in the world, becoming a global leader in the off-highway tires segment with the addition of Trelleborg, Mitas, Maximo, Cultor brands and Interfit service network to its portfolio.
, says: “Today we are closing a successful chapter in our history with the Trelleborg Group and opening a new page with a leading player in the tire industry, sharing our values and vision for the future," commented Paolo Pompei, former President of Trelleborg Wheel Systems and current President and CEO of Yokohama TWS. "Over the last few years, we have delivered continuous business growth combining strategic acquisitions with dedicated investments, and this has allowed us to build a strong and sustainable platform supported by a global manufacturing footprint, innovative products and solutions and an extensive sales network in close proximity to our customers. I’m extremely proud of what the TWS team has been able to achieve so far and we are all honored that Yokohama has decided to invest in us, building together with their existing business, a new leading player in the off-highway segment."
Yokohama TWS will continue delivering the same high quality products, solutions, and level of service to all its customers worldwide, the company noted. As a new company, Yokohama TWS will operate with no change to its organizational structure.