The previously announced takeover of Trelleborg Wheel Systems by Yokohama has been delayed by regulatory requirements
Planned Yokohama Purchase of TWS Delayed
Trelleborg states that the transaction, which has been delayed by regulatory hurdles, “is instead expected to take place during the first half of 2023, likely in the first months of the year.”
The Swedish company indicated that; “regulatory approval in a number of countries is still pending,” and says its announcement is intended “to clarify” the status of the sale.
In March, Peter Nilsson, president, and CEO of Trelleborg Group stated; “Under Trelleborg’s ownership, TWS has during the past few years more than doubled in size and substantially increased its profitability. Today, the business is in great shape. While evaluating different alternatives for the Group we have concluded that a divestment at this valuation generates the most shareholder value and creates exciting opportunities going forward.”
Yokohama Rubber said, at the time that it believed the TWS acquisition would provide it with a more complete product brand structure, strengthen its service network, broaden its regional sales network, and boost its sales of OE [original equipment] tyres.”
The TWS acquisition is part of Yokohama’s aim to grow its non-car tyre market as it expands into truck and bus and off-the-road tyres.