TrelleborgVibracoustic, a 50/50 joint venture between Trelleborg and Freudenberg, has been formed to provide antivibration solutions for heavy and light vehicles.
The joint venture consists of Freudenberg's Vibracoustic operation and Trelleborg's previous operation in antivibration solutions. The total annual sales at the 2011/2012 year end were roughly SEK 13.4 billion, in which Trelleborg Automotive’s share was roughly SEK 7.1 billion.
Peter Nilsson, President and Chief Executive Officer at Trelleborg, was happy to note that TrelleborgVibracoustic is now operational. Trelleborg and Freudenberg have established a major player in antivibration solutions, which is an emerging business within in the automotive market. Trelleborg as a group will become a part of a business with better profitability potential and higher growth than its previous operation in antivibration solutions. The joint venture will add more value for the company in the years to come.
Peter Nilsson is the Chairman of the Supervisory Board of TrelleborgVibracoustic, with a management board comprising Trelleborg Group’s Lennart Johansson and Jim Law, and the Vibracoustic management board’s Norbert Schebesta and Hans-Jürgen Goslar. Hans-Jürgen Goslar is the Spokesperson for the new joint venture.
Trelleborg’s contribution in the joint venture TrelleborgVibracoustic is realized utilizing the equity method. The group’s profit share in the joint venture is recognized under the item ‘Share of profit or loss in associated companies before tax’ in the income statement and added as ‘Tax on share of profit or loss in associated companies’ in operating profit.
Source: http://www.trelleborg.com