Trelleborg, a Swedish automotive parts supplier, announced that it has completed the sale of its Brazilian light vehicle brake hose business to Flexitech in France.
In mid-January 2011, Trelleborg first announced the sale. The company said at the time that Flexitech's acquisition of Trelleborg's Brazilian brake hose business would cost approximately SEK 65 million (approximately US$ 10 million). At the same time, Trelleborg will retain its associated infrastructure assets worth about 30 million Swedish kronor (about 4.62 million U.S. dollars).
In January of this year, Jim Law, president of Trelleborg Automotive stated, “We only have a brake hose business in Brazil. Separating this business is a strategic change for the company. Separating this business for us is another business. The investment laid the foundation."
It is reported that Trelleborg's brake hose business in Brazil has annual sales of approximately SEK 140 million (approximately US$ 21 million) and employs approximately 200 employees. Its entire product is sold only on the Brazilian market.
Earlier, Trelleborg said that after the company sold Brazil's brake hose business, it may concentrate on the development of light vehicle shockproof products in Brazil.
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