The Swedish-headquartered Trelleborg Group introduced it has offered its U.S. offshore oil and gasoline operations to an undisclosed purchaser.
Positioned in Toledo, Ohio, the operation develops and manufactures primarily ceramic macrospheres and buoyancy modules.
“We’re happy that we’ve got discovered a brand new proprietor that we all know properly and who needs to proceed creating operations,” mentioned Peter Nilsson, President and CEO of Trelleborg.
The transfer comes after Trelleborg divested the vast majority of its U.S. offshore oil and gasoline operations in 2021.
The divested operation, which is a part of the Trelleborg Industrial Options enterprise space, reported annual gross sales of roughly SEK 30 million (US$2.9 million) in 2022, Trelleborg mentioned.
The divestment will contribute positively to money stream however entail a non-cash capital lack of roughly SEK 90 M (US$8.6 million), which can be acknowledged as a nonrecurring price within the fourth quarter of 2023, the corporate added.
