TRELLEBORG, Sweden — Trelleborg Wheel Systems registered single-digit growth in operating income and sales for the quarter ended March 31, based in large part on higher sales in North America.
The business, now part of Yokohama Rubber Co. Ltd. after completion of YRC's $2.3 billion acquisition bid, reported a 3.7% improvement in pre-tax earnings of $52.2 million on 8.1% higher sales revenue of $348.6 million, according to Trelleborg A.B. As a result, the operating ratio slid slightly to 15%.
Trelleborg cited a "favorable market trend" in North America and in the global OE agricultural tire business for the sales increase, which offset the negative impacts of high inflation and lower aftermarket sales in Europe.
Demand for tires for materials-handling and construction vehicles was somewhat lower during the period.
EBIT rose as a result of price adjustments and effective cost control, Trelleborg said, which offset the significant inflation.
Yokohama Rubber and Trelleborg announced May 2 that the sale of Trelleborg Wheel Systems was complete and that the Trelleborg unit will be known as Yokohama TWS.
