Trelleborg, Sweden-Trelleborg AB has completed the purchase of Spartanburg, South Carolina-based Reeves Brothers Inc. for about $178 million to significantly expand its polymer-coated material business.
Reeves, with sales in the $192 million range annually, develops and produces polymer-coated, high-precision fabrics, including rubber, polyurethane and silicone. It also makes printing blankets, which is a new market for Trelleborg.
Included in the acquisition are Reeves' two factories in Spartanburg and plants in Rutherfordton, North Carolina, and China. The company employs 1000.
Reeves operations will be integrated into Trelleborg's Engineered Systems business.
From Rubber & Plastics News, a Crain publication.