Sweden’s Trelleborg AB is buying another seal company, this time a North Carolina-based distributor of polymer seals for its Sealing Solutions business.
Carolina Seal Inc., based in Charlotte, specializes in seals, such as O-rings, hydraulic seals and ‘speciality kitting,’ with transport equipment, particularly products for the transport of chemicals its biggest market. It reports annual sales of $5.6 million, according to Trelleborg, which is based in Trelleborg, Sweden.
The bolt-on acquisition, Trelleborg said, is part of the company’s strategy to strengthen its positions in “attractive” market segments.
“The acquisition is a good fit and gives us the opportunity to enter the fast-growing chemical transportation sub-segment,” said Claus Barsoe, president of the Trelleborg sealing solutions business area. The US business, he added, “is well-known to us and we are impressed with their engineering knowledge and the service they provide to customers.”
The transaction is expected to be completed within the first quarter of 2017.
Source: Plastics News
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.
