Trelleborg (company)
 | |
| Publicly traded Aktiebolag | |
| Traded as | Nasdaq Stockholm: TREL B |
| Industry | Polymer engineering |
| Founded | 1905 |
| Founder | Henry Dunker and Johan Kock |
| Headquarters | Trelleborg, Sweden |
Area served | Worldwide |
Key people |
Hans Biörck Chairman Peter Nilsson President and CEO |
| Revenue | 32 billion SEK (2017) |
Number of employees | 23,000 (2017) |
| Divisions | Trelleborg Coated Systems, Trelleborg Industrial Systems, Trelleborg Offshore and Construction, Trelleborg Sealing Solutions, Trelleborg Wheel Systems |
| Website | www.trelleborg.com |
Trelleborg AB is a global engineering group focused on polymer technology, with headquarters in Trelleborg, Sweden, with approximately 23,000 employees (2017), and with yearly revenue of 32 billion SEK. Its stock has been publicly listed on stock exchanges since 1964, and currently (2018) is listed on the Nasdaq Stockholm, large cap. It has operations in about 50 countries and describes its mission as the development of "engineered polymer solutions that seal, damp and protect critical applications in demanding environments".
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 at 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)." [1] In mid 2012, Trelleborg and Freudenberg formed a 50/50 joint venture in antivibration solutions for light and heavy vehicles, TrelleborgVibracoustic. In summer 2016, Trelleborg divested all of its shares to Freudenberg and that concluded the Automotive antivibration journey.[2]
Operations
Trelleborg AB is divided into the following business areas:[3]
- Trelleborg Coated Systems (polymer-coated fabrics)
- Trelleborg Industrial Solutions (hose systems, industrial antivibration solutions and selected industrial sealing systems)
- Trelleborg Offshore & Construction (polymer-based solutions for offshore oil & gas and infrastructure)
- 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 Wheel Systems (tires and wheels for agriculture, forestry and materials handling vehicles)
Market
Trelleborg AB was in 2011, according to Rubber & Plastics News, the third largest player in the world market for non-tire rubber products.[4]
| Ranking by sales | Company | Country |
|---|---|---|
| 1 | Continental A.G. | Germany |
| 2 | Hutchinson S.A. | France |
| 3 | Trelleborg AB | Sweden |
| 4 | Freudenberg Group | Germany |
| 5 | Bridgestone Corp | Japan |
| 6 | NOK Inc. | Japan |
| 7 | Tokai Rubber Industries Ltd. | Japan |
| 8 | Pinafore Holdings B.V. | United Kingdom |
| 9 | Cooper-Standard Automotive | United States |
| 10 | Parker-Hannifin Corp. | United States |
The net sales for 2017 had the following geographical distribution:[5]
| Region | Share of sales |
|---|---|
| Western Europe | 47% |
| Rest of Europe | 11% |
| North America | 22% |
| Asia and other markets | 16% |
| South and Central America | 4% |
Ownership
The 10 largest shareholders of Trelleborg AB, as of December 31, 2017:[6]
| No | Shareholder | Percent of share capital | Percent of votes |
|---|---|---|---|
| 1 | Dunker fund & foundations[lower-alpha 1] | 10.51% | 54.02% |
| 2 | Didner & Gerge funds | 5.60% | 2.88% |
| 3 | AMF Insurance & Funds | 5.55% | 2.85% |
| 4 | First Swedish National Pension Fund | 3.17% | 1.63% |
| 5 | Janus Henderson Investors | 3.11% | 1.60% |
| 6 | Alianz Global Investor | 2.81% | 1.45% |
| 7 | Lannebo Funds | 2.78% | 1.43% |
| 8 | Vanguard | 2.14% | 1.10% |
| 9 | SEB | 1.82% | 0.94% |
| 10 | Swedbank Robur Funds | 1.69% | 0.87% |
- ↑ All of the Series A shares are owned by the Dunker Funds and Foundations, which were created through testamentary disposition by the founder of the Helsingborg and Trelleborg rubber-production plants, Henry Dunker.
Governance
Since April 24, 2013, Sören Mellstig 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 – | Hans Biörck |
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 |
References
- ↑ http://europa.eu/rapid/press-release_IP-09-137_en.htm
- ↑ History
- ↑ Organization
- ↑ Bruce Meyer (2011). "Rankings". Rubber & Plastics News. Crain Communications (July 09): 12.
- ↑ Annual Report
- ↑ Ownership structure