PRAGUE, Czech Republic (June 22, 2000)—Trelleborg A.B. has agreed to sell the assets of its phased-out motorcycle tire business to Czech tire maker Mitas A.S., for an undisclosed amount.
Mitas, a member of the Ceska Gumarenska Spol. rubber manufacturing group, will take over production and marketing of Trelleborg motocross and off-road motorcycle tires this year, the companies said. The deal includes Trelleborg´s molds for the off-road tire line, and rights to market this specific product line under the Trelleborg name, the company said.
Mitas reported sales of $62.1 million last year, about 5 percent of which was from motorcycle tires. As a result of the purchase, Mitas expects its output of two-wheeler tires to rise about a third in the coming two to three years.
Mitas, formerly part of the Barum group of rubber companies, operates tire plants in Prague and Zlin, Czech Republic.
Trelleborg phased out production of the tires last year at its Trelleborg, Sweden, plant to make room for expanded forestry and farm tire production.