Swedish engineering and polymer major Trelleborg through its Trelleborg Sealing Solutions business has signed an agreement to acquire US-based Tritec Seal, which offers engineered polytetrafluoroethylene (PTFE) sealing solutions.
Trelleborg says the acquisition strengthens its product portfolio, primarily in rotary seals, while giving the business area access to increased manufacturing capacity that is needed. Headquartered in Fenton, Michigan, Tritec Seal reported total sales of around SEK 300 million (Rs 224 crore) in 2018. This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.
Peter Hahn, president, Trelleborg Sealing Solutions said: “I am delighted to welcome the acquired operation to Trelleborg. With Tritec Seal, we can increase our production and offering of PTFE seals. Along with Tritec Seal’s service model for the Maintenance, Repair and Operations (MRO) market and our Service Plus offering, we are also gaining a strong offering for local original equipment customers.”