The Freudenberg Group has signed a memorandum of understanding with Trelleborg recently. The two companies will set up a joint venture company for shock absorber systems, each holding 50% of the shares. The agreement still needs to be approved by the relevant regulatory authorities, especially the European antitrust management authority.
As early as January 17 this year, Freudenberg and Trelleborg signed a letter of intent for cooperation. The two parties may sign a final cooperation agreement in January next year, and the joint venture company can be finally established after the relevant management department approves it.
The joint venture will consist of Trelleborg's shock-absorbing business and Freudenberg's noise-reduction and shock-absorption business. The two parties intend to complement each other and build a shock-absorbing business platform while promoting their respective development.
Trelleborg's shock absorber business has annual sales of about SEK 6.3 billion (about 940 million U.S. dollars) and employs about 5,200 people, which represents 75% of Trelleborg's annual sales.
As early as January 17 this year, Freudenberg and Trelleborg signed a letter of intent for cooperation. The two parties may sign a final cooperation agreement in January next year, and the joint venture company can be finally established after the relevant management department approves it.
The joint venture will consist of Trelleborg's shock-absorbing business and Freudenberg's noise-reduction and shock-absorption business. The two parties intend to complement each other and build a shock-absorbing business platform while promoting their respective development.
Trelleborg's shock absorber business has annual sales of about SEK 6.3 billion (about 940 million U.S. dollars) and employs about 5,200 people, which represents 75% of Trelleborg's annual sales.
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