TRELLEBORG, Sweden (Feb. 19, 2014) — Trelleborg Wheel Systems reported improved operating income last year on 8.4-percent higher sales, which the unit of Trelleborg A.B. attributed to the first-time inclusion of results of Maine Industrial Tire, acquired in late 2012.
Operating income rose 9.1 percent to $75.3 million, which management attributed to contributions from Maine Tire and efficient cost management. Currency exchange rate effects had a negative impact on earnings.
Sales revenue increased to $643.5 million. Without the contribution of Maine Tire, Trelleborg’s organic sales were down 1 percent from 2012, the firm reported, with agricultural tires up slightly and materials-handling tires down slightly.
During the fourth quarter, Trelleborg Wheel acquired the industrial tire distribution business of Pircher Alfred s.a.s., with distribution centers in Milan and Bologna, Italy. The business reported sales of about $11.5 million in 2012, Trelleborg said.
Parent Trelleborg A.B. reported double-digit drops in sales and earnings for the year. As a result, Trelleborg Wheel accounts for roughly 20 percent of Trelleborg’s sales volume.
With the threat of more tariffs looming, how concerned are you about a trade war?
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