Trelleborg A.B.'s Industrial Solutions business has taken full ownership of the group's joint venture in Mexico with Max Seal, a Costa Rica-based sealing systems company.
The operation was already fully consolidated financially and Trelleborg acquired the remaining 49 percent of the shares from Max Seal, according to a Trelleborg news release. The JV's 130 employees become part of the Americas organization of Stockholm-based Trelleborg's seals and profiles operations.
The JV includes a manufacturing facility based in Tijuana that produces watertight seals for plastic and double corrugated wall pipe systems for water and wastewater.
Alan Guzowski, who was managing director of Max Seal, will exit the business. Leadership will be taken up by Smith McKee, managing director of Trelleborg's seals and profiles operation in the Americas.
Trelleborg and Max Seal have been developing and manufacturing polymer-based sealing systems together since 2014.
The JV was established to allow expansion into Latin America and the creation of better customer proximity through local production, Magnus Andersson, business unit president of Trelleborg's seals and profiles operation, said in a statement. Taking full control of the JV allows Trelleborg to serve its regional customer base and drive greater efficiencies.