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2006-11-27 News Release
Rubber industrial tires biz to transfer out of USA Trelleborg Wheel Systems Hartville, Ohio, that manufactures rubber tires for material handling vehicles such as forklifts, will consolidate production in Sri Lanka.
Trelleborg is consolidating its industrial tire production to Sri Lanka
and will invest in increased production capacity at one of Trelleborg
Wheel Systems’ plants in Sri Lanka. As a consequence of this, it
is announced that the production of industrial tires will be terminated
and relocated from Trelleborg Wheel Systems’ plant in Hartville,
Ohio, in the US. The cost of closure, production transfer and investments
will total approximately SEK 130 M over a three-year period.
In Hartville, industrial tires are manufactured for material-handling vehicles such as forklifts. The unit has about 200 employees, of whom about 115 are involved in production. The production will be transferred successively to Sri Lanka in 2008. Production in Hartville is expected to continue until the first quarter of 2009. Subsequently, there will continue to be resources in sales, technical service and distribution in North America. Trelleborg Wheel Systems “We have conducted business successfully in Sri Lanka for many years, and with this investment, we are improving the operations further,” says Maurizio Vischi. “The investment in extended production capacity will involve upgraded production and enhanced efficiency, and we expect to handle the additional volume within the framework of the current workforce. We have an excellent skills base in place and another benefit is that Sri Lanka has a first-rate location with proximity to good supplies of raw materials.” The investment in production in Sri Lanka amounts to about SEK 100 M,
of which a large portion is attributable to the production transfer. The
costs of closure and relocation of production from Hartville are expected
to amount to about SEK 30 M before tax, most of which will mainly affect
cash flow in 2007. The positive earnings effect is estimated to amount
to about SEK 35 M before tax on an annual basis, with full impact from
the third quarter of 2009. Costs and investments related to the transfer
of production are expected to have a payback time of less than three years,
while this will also create a better strategic position for the future.
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