Trelleborg, Sweden -- Trelleborg's acquisition of the Lydney, England-based Watts Tyre Group has been finalised, the Swedish company announced in a 7 Feb statement.
The takeover, which was finalised on 4 Feb, strengthens Trellborg's position in industrial tyres, "through geographic expansion and an increased presence in the aftermarket," the statement said.
Trelleborg first announced its agreement to buy the rubber and polyurethane industrial tyre maker in Nov 2010.
Trelleborg has previously said that it expects Watts to contribute favourable earnings from the date of takeover, with annualised positive bottom-line effect in the area of $6.5 million (Euro 4.8 million).
The operation will be integrated into Trelleborg Wheel Systems business area. LMH