Trelleborg Completes Acquisition of Brazilian Offshore O&G Business from Veyance Technologies
Trelleborg’s acquisition of a business in the offshore oil and gas industry in Brazil from a subsidiary of Veyance Technologies has been finalized. The business focuses on specially designed oil hoses for surface and deep-sea applications for the strongly growing offshore oil and gas extraction industry in Brazil.
The operation will be integrated into Trelleborg Engineered Systems business area.
The plant is located in Santana de Parnaiba, close to São Paulo. Trelleborg will take over the lease on the facility, which is 15,000 m2, acquire the existing equipment and assume responsibility for the some 100 employees. The seller is Veyance Technologies do Brasil Produtos de Engenharia Ltda.
This represents a step in our quest to strengthen our presence in Brazil in the offshore oil/gas industry,” says Lennart Johansson, President of the Trelleborg Engineered Systems business area. “The acquired operation complements our current technology in oil hoses and is thus an excellent addition to our product portfolio, globally as well as in Brazil. Our customers are moving more and more of their production to Brazil and it is crucial to ensure that we have manufacturing close to their units.”
Trelleborg has reported significant sales in the oil/gas industry in Brazil for a long time now and, in November 2010 the Group announced an investment in a new facility in Macaé, north of Rio de Janeiro, for the manufacture of such items as subsea buoys for deep-sea applications. In recent years, large deposits have been discovered off the coast of Brazil and, by 2014, Brazil is forecast to be the largest market in the world for the products and solutions that Trelleborg offers.
Trelleborg is a global industrial group whose leading positions are based on advanced polymer technology and in-depth applications know-how. Trelleborg develops high-performance solutions that seal, damp and protect in demanding industrial environments. The Trelleborg Group had annual sales during 2010 of approximately SEK 27 billion, with about 20,000 employees in 40 countries. The Group comprises four business areas: Trelleborg Engineered Systems, Trelleborg Automotive, Trelleborg Sealing Solutions and Trelleborg Wheel Systems. The Trelleborg share has been listed on the Stockholm Stock Exchange since 1964 and is listed on the OMX Nordic List, Large Cap.
Source: Trelleborg, April 13, 2011