Trelleborg (company)

Trelleborg AB

Headquarters in Trelleborg, Sweden
Company type	Public (Aktiebolag)
Traded as	Nasdaq Stockholm: TREL B
Industry	Polymer engineering
Founded	1905 (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
Revenue	34 billion kr (2023)
Operating income	7,368,000,000 Swedish krona (2023)
Net income	10,075 million kr (2023)
Total equity	41,727 million kr (2023)
Number of employees	15,646 (2023)
Divisions	Trelleborg Industrial Solutions Trelleborg Sealing Solutions Trelleborg Medical Solutions
Website	trelleborg.com

Trelleborg AB is a global engineering group specializing in polymer technology, headquartered in Trelleborg, Sweden. As of 2023, the company employs 15,646 people and generated annual revenues of 34 billion SEK. It became a public company in 1964 and currently trades on the Nasdaq Stockholm as a large-cap component.

History

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 on the Stockholm Stock Exchange. The 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)." In mid-2012, Trelleborg and Freudenberg formed a 50–50 joint venture in antivibration applications for light and heavy vehicles, TrelleborgVibracoustic. This venture ended in summer 2016, when Trelleborg divested all of its shares to Freudenberg.

In August 2022, it was announced Trelleborg had acquired the Lindau-based aerospace interiors company, MG Silikon GmbH, an entity within Saint-Gobain Group. In October 2022, Trelleborg acquired US-based company, Minnesota Rubber & Plastics, from private equity firm KKR for US$950 million. In March 2022, the Group signed an agreement to divest the Trelleborg Wheel Systems business area to Yokohama Rubber Company. The divestment was expected to be finalized during the first half of 2023.

Operations

Trelleborg AB is divided into the following business areas:

• 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

Per Rubber & Plastics News, Trelleborg AB was the third-largest player in the world market for non-tire rubber products in 2018.

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:

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

Ownership

The 10 largest shareholders of Trelleborg AB, as of December 31, 2023, are as follows:

No	Shareholder	Percent of share capital	Percent of votes
1	Henry Dunker Donation Fund & Foundations	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%

Governance

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