TRELLEBORG, Sweden (Oct. 28, 2013) — Trelleborg Wheel Systems reported a 33-percent increase in operating income for the quarter ended Sept. 30 on 18.5-percent higher sales.
Trelleborg Wheel, a unit of the diversified Swedish polymer group Trelleborg A.B., attributed the earnings improvement to the effects of higher sales and efficient cost management, with the firm's acquisition of Maine Industrial Tire last year playing a key role.
Operating income rose to $18.4 million on sales of $159 million, for an operating margin of 11.5 percent, Trelleborg said. Exchange rate effects held down the scale of the improvement.
Looking ahead, the group cited the global launch of a range of solid specialty tires for construction, civil engineering, underground mining and waste management vehicles for optimism.
The unit posted operating income of $62.7 million for the nine-month period, an increase of 5.6 percent, and sales of $508.7 million, a 6.5-percent improvement.
The unit represents about 20 percent of parent Trelleborg's annual sales. The parent posted operating income of $112.2 million on sales of $835.6 million in the quarter, both improvements.