Lewis-Goetz buys Goodall Rubber from Trelleborg

Tockholm, Sweden -- Through its Trelleborg Engineered Systems business area, the Trelleborg Group has agreed to sell the operations in US subsidiary Goodall Rubber Company for SEK 205 M (Euro 21.8 million), of which SEK 160 M is to be paid cash at the time of sale with a further SEK 45 M in the form of interest-bearing loans maturing over a period of five years.

Goodall, which sells and distributes hoses and hose connectors in the US and Canada, has slightly more than 400 employees and generated sales of approximately SEK 650 M (Euro 79 million) in 2006. Trelleborg acquired Goodall in 1986.

"The sale of Goodall represents a step in our continued focus on prioritized segments and the streamlining and concentration of the Group's structure," says Peter Nilsson, President and CEO of Trelleborg. "With regard to Goodall, we see limited opportunities for synergies and operations are not, in the long term, considered to be in line with our core operations and financial targets. An opportunity has now presented itself and we are pleased that Goodall will have a new home where it can develop as a core operation."

Since the 1990s, Goodall has been involved in certain product-related asbestos lawsuits. The responsibility for the asbestos lawsuits remains with Trelleborg, as does the insurance coverage. No lawsuits have had, or are expected to have, more than a marginal impact on Trelleborg.

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Press release from Trelleborg