In a move intended to expand its North American footprint in several business areas, Sweden-based Trelleborg AB will purchase Minnesota Rubber and Plastics in a deal worth approximately $950 million.
The cash and debt-free deal — announced Aug. 2 — is expected to be finalized by the end of this year.
"This is a step change for Trelleborg Sealing Solutions," said Peter Nillson, president and CEO of Trelleborg Group. "The business area will be as strong in North America as its already established position in Europe."
Nillson said in an Aug. 2 news conference that MRP complements and strengthens Trelleborg Sealing Solutions' position in the rubber product space, especially as it relates to medical, food, beverage and water-related polymer and thermoplastic components.
MRP, the operating name for Quadion LLC, has liquid silicone rubber molding, injection molding of plastics, rubber molding, overmolding, assembly and other services.