TRELLEBORG, Sweden — Trelleborg A.B. has rebuffed a report suggesting it is considering a bid from Yokohama Rubber Co. Ltd. for its Trelleborg Wheel Systems (TWS) business unit.
In a written comment to European Rubber Journal regarding a reported $2 billion bid, a Trelleborg spokeswoman said, "we never comment on unsubstantiated and speculative rumors."
The Swedish group, she added, is "very committed to our tire business and have invested in our platform following the integration of Mitas and Trelleborg.
"Our aim is to continue to invest to build an even more successful future."
Trelleborg only recently touted the unit's sales and earning potential during a Capital Markets Day presentation.
The unit is on target to report $1.4 billion in sales this year with a 12.2% earnings ratio. The longer term goal is raise that ratio to 15%, Trelleborg President and CEO Peter Nilsson said.
According to the company's third quarter earnings report, the tire and wheel business unit accounts for 29% of Trelleborg's overall sales.
In North America, where Trelleborg has two tire plants in operation, the strategy calls for increasing output and cost efficiency steadily.
European Rubber Journal formerly was a sister publication of Tire Business; the publications continue to have an information-sharing relationship.