Swedish manufacturer Trelleborg assumes full ownership of Tijuana joint venture
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Trelleborg A.B.'s Industrial Solutions business recently announced it has purchased the remaining 49% of shares of its joint venture in Tijuana, Baja California, from its JV partner Max Seal.
The manufacturing facility produces watertight seals for a variety of plastic and double corrugated wall pipe systems for water and wastewater.
The Sweden-based company purchased 51% of the Max Seal business in March 2014, and since then the two have been developing and manufacturing polymer-based sealing systems together.
The business unit president of Trelleborg, Magnus Andersson, said in a statement that the take-over will help the company serve its regional customers better and drive greater efficiencies.
Trelleborg said the JV had been fully consolidated financially prior to the company's purchase of the business. The deal closed Feb. 5. The financial terms of the transaction were not disclosed.
Its 130 employees will become a part of Trelleborg Seals and Profiles operations.
Trelleborg Seals and Profiles Americas also operates manufacturing facilities in New Hampshire, Missouri and Queretaro, Mexico.
In addition to the sealing systems produced by the Seals and Profiles Americas business, Trelleborg Industrial Solutions produces industrial hose, oil and marine components, industrial anti-vibration systems and polymer boots.
Smith McKee, managing director of the Seals and Profiles Americas business, said the operation in Tijuana will be named Trelleborg Pipe Seals Americas for the time being, but that could change.
Alan Guzowski, who had served as managing director of Max Seal, will exit the business, Trelleborg said. McKee, who has been the managing director of the Sealing Profiles Americas operation since 2008 and head of the Seals and Profiles Americas business since it was formed in the beginning of 2019, will take over leadership duties of the Tijuana unit.
“This marks the start of an exciting new chapter for the business as we seek to continue our growth and development,” McKee said, adding that the deal to acquire all of the Tijuana business has been in the works for a few years “and we're excited for the process to finally be completed.”