Trelleborg (company)

Trelleborg AB is a global engineering group focused on polymer technology, with headquarters in Trelleborg, Sweden, with approximately 24,000 employees (2018), and with yearly revenue of 34 billion SEK. Its stock has been publicly listed on stock exchanges since 1964, and currently (2019) 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".

Trelleborg AB
Publicly traded Aktiebolag
Traded asNasdaq Stockholm: TREL B
ISINSE0000114837 
IndustryPolymer engineering
Founded1905
FounderHenry Dunker and Johan Kock
Headquarters
Trelleborg, Sweden
Area served
Worldwide
Key people
Hans Biörck
Chairman
Peter Nilsson
President and CEO
Revenue34 billion SEK (2018)
4,022,000,000 Swedish krona[1] (2017) 
2,874,000,000 Swedish krona[1] (2017) 
Number of employees
24,000 (2018)
DivisionsTrelleborg Coated Systems, Trelleborg Industrial Systems, Trelleborg Offshore and Construction, Trelleborg Sealing Solutions, Trelleborg Wheel Systems
Websitewww.trelleborg.com
Trelleborg AB Headquarters, in Trelleborg, Sweden.

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)." [2] 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.[3]

Operations
Trelleborg TM 900 710-75 R 42
Trelleborg tire TM 2000 on a forage harvester (fitted with CTIS)

Trelleborg AB is divided into the following business areas:[4]

  • 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.[5]

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 2018 had the following geographical distribution:[6]

Region Share of sales
Western Europe 48%
Rest of Europe 10%
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, 2018:[7]

No Shareholder Percent of share capital Percent of votes
1 Dunker Fund & Foundations[lower-alpha 1] 10.70% 54.01%
2 Didner & Gerge Funds 6.20% 3.20%
3 Allianz Global Investors 5.00% 2.60%
4 Janus Henderson Investors 4.40% 2.30%
5 AMF Insurance & Funds 3.70% 1.90%
6 Lannebo Funds 3.50% 1.80%
7 First Swedish National Pension Fund 2.80% 1.40%
8 Vanguard 2.40% 1.20%
9 Handelsbanken Funds 2.40% 1.20%
10 Norges Bank 1.90% 1.00%
  1. 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 26, 2018, Hans Biörck 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
gollark: Yes.
gollark: No, pass `event.timer` or whatever `function() foo(args, whatever, bees, args) end`. You're defining a new anonymous function which just calls `foo` with whatever arguments.
gollark: CC is good too! Well, CC: Tweaked.
gollark: You can also just pass it a function `function() foo(whatever, arguments, you, want) end`.
gollark: Also, you would probably need to have the computer store CA certificates and stuff...

References
  1. http://mb.cision.com/Main/584/2474650/807350.pdf.
  2. http://europa.eu/rapid/press-release_IP-09-137_en.htm
  3. History
  4. Organization
  5. Bruce Meyer (2011). "Rankings". Rubber & Plastics News. Crain Communications (July 09): 12.
  6. Annual Report
  7. Ownership structure
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