Alexei Volkov
Minnesota Rubber and Plastics, a world leader in material compound development, design, and manufacturing of custom rubber components, is now owned by the Trelleborg Group. The acquisition was finalized in 2022, with Trelleborg financing the purchase with a bridge loan. The Trelleborg Group is a world leader in engineered polymer solutions, with operations in about 50 countries and annual sales of about SEK 34 billion.
| Characteristics | Values |
|---|---|
| Current owner | Trelleborg Group |
| Previous owner | Quadion Corporation |
| Year of acquisition | 2022 |
| Headquarters | Minneapolis, Minnesota, US |
| Number of manufacturing facilities | 8 |
| Number of manufacturing facilities in the US | 4 |
| Countries with manufacturing facilities | Mexico, England, the Czech Republic, China |
| Annual sales | SEK 2,250 million |
| Year founded | 1945 (as Tool Products) |
| Year the name Minnesota Rubber was adopted | 1957 |
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What You'll Learn
Minnesota Rubber & Plastics is now owned by Trelleborg
Trelleborg is a global company with operations in around 50 countries and annual sales of approximately SEK 34 billion. The group comprises three business areas: Trelleborg Industrial Solutions, Trelleborg Sealing Solutions, and Trelleborg Wheel Systems.
Minnesota Rubber & Plastics, on the other hand, has been in business for over 75 years and has a strong focus on research and development. The company has its headquarters and innovation centre outside of Minneapolis, Minnesota, and eight manufacturing facilities worldwide. Four of these facilities are in the US, while the remaining four are located in Mexico, England, the Czech Republic, and China.
The acquisition of Minnesota Rubber & Plastics by Trelleborg was financed through a bridge loan. The purchase price allocation is still ongoing and will be communicated upon completion.
With this acquisition, Trelleborg expands its leadership in the field of engineered polymer solutions, further accelerating performance for customers in a sustainable manner. Minnesota Rubber & Plastics, now part of Trelleborg, continues to empower its technicians to innovate and provide solutions to challenging sealing and component problems.
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Trelleborg is a world leader in polymer solutions
Trelleborg is a world leader in engineered polymer solutions. The company has three business areas: Trelleborg Industrial Solutions, Trelleborg Sealing Solutions, and Trelleborg Wheel Systems. Trelleborg Sealing Solutions, in particular, is one of the world's leading developers, manufacturers, and suppliers of precision seals, bearings, and custom-molded polymer components.
Trelleborg's acquisition of Minnesota Rubber & Plastics was finalized in 2022. Minnesota Rubber & Plastics is a company that manufactures molded elastomeric and thermoplastic components. With an emphasis on research and development, the company empowers its technicians to design, formulate, develop, and test a wide range of highly engineered materials and parts.
The acquisition of Minnesota Rubber & Plastics by Trelleborg was fully financed with the help of a bridge loan. The transaction was consolidated on October 27, 2022. With this acquisition, Trelleborg further strengthens its position as a world leader in polymer solutions.
Trelleborg's Engineered Coated Fabrics business unit is a world-leading producer of specialty polymer-coated and calendared materials. The company's polymer solutions are used in a variety of industries, including healthcare and medical, marine and infrastructure, and automotive.
Through its advanced materials lab and global manufacturing capabilities, Trelleborg works with original equipment manufacturers to provide solutions to challenging sealing and component issues. The company's innovative culture and customer-first outlook have helped it outperform the competition and maintain its leadership position in the polymer solutions market.
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Minnesota Rubber & Plastics has eight manufacturing facilities globally
Minnesota Rubber & Plastics is a company that has been in operation for over 75 years. It was purchased by George E. Carlson and Paul Dennison in 1946 and renamed the Minnesota Rubber and Gasket Company. The company has since expanded globally and now has a total of eight manufacturing facilities worldwide.
The company's headquarters are located outside of Minneapolis, Minnesota, US. This is also where its innovation centre is based. Minnesota Rubber & Plastics has a global manufacturing footprint, with facilities in China, France, Mexico, the Czech Republic, and England. The company's global facilities are strategically located to ensure that customers have access to a range of materials, such as Liquid Silicone Rubber (LSR), thermoplastics, and polymers.
Minnesota Rubber & Plastics has a strong focus on research and development, empowering its technicians to design, formulate, develop, and test a diverse array of highly engineered materials and parts. The company works closely with original equipment manufacturers to tackle complex sealing and component challenges. By emphasising innovation, Minnesota Rubber & Plastics has established its own Machine Design Center.
The company's global reach extends to serving customers in various languages. Its capabilities include silicone moulding, extrusion, sheeting, dipping, coating, and overmoulding. With manufacturing facilities operating under strict ISO guidelines, Minnesota Rubber & Plastics ensures quality and consistency in its operations.
In 2022, the Trelleborg Group, a world leader in engineered polymer solutions, acquired Minnesota Rubber & Plastics. This acquisition further strengthened Minnesota Rubber & Plastics' global presence and capabilities, leveraging the Trelleborg Group's extensive experience, materials, and robust supply chain.
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The company has been in business for over 75 years
Minnesota Rubber & Plastics has been in business for over 75 years. The company was founded in 1945 as Tool Products by Al Zeiss, operating from his home. In the early 1950s, the company moved to Franklin and Cedar in South Minneapolis. After several expansions, it moved to New Hope in 1973.
In 1946, the company was purchased by George E. Carlson and Paul Dennison, who renamed it the Minnesota Rubber and Gasket Company. Dennison became president, and Carlson was Chairman of the Board. At the time, the company had nine employees. Over the next decade, the company expanded its operations and innovated the manufacturing of rubber products, establishing its own Machine Design Center. In 1957, the company's name was changed to Minnesota Rubber Company, reflecting the phasing out of gasket production.
In 1975, Robert W. Carlson, Jr., bought Tool Products, and it became a wholly-owned subsidiary of Minnesota Rubber. In 1985, Minnesota Rubber and Tool Products were reorganized under the corporate identity of the Quadion Corporation, with each company retaining its name but identified as "A Quadion Company." The term "Quadion" represented four key attributes of the company: quality products, timely delivery, superior customer service, and cost-effective pricing.
Minnesota Rubber continued to expand its operations, establishing facilities in France and Singapore by 2004. In 2004, the company moved its headquarters to Plymouth, and the old plant was sold to a developer. In August 2022, Minnesota Rubber & Plastics joined Trelleborg Sealing Solutions, becoming part of the Trelleborg Group, a world leader in engineered polymer solutions.
Throughout its history, Minnesota Rubber & Plastics has specialized in material compound development, engineering design, and manufacturing custom molded elastomeric and thermoplastic components. With an emphasis on research and development, the company has empowered its technicians to innovate and provide solutions to challenging sealing and component problems.
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Minnesota Rubber & Plastics was previously owned by Robert W. Carlson, Jr
In August 2022, Minnesota Rubber & Plastics was acquired by the Trelleborg Group, a world leader in engineered polymer solutions. The Trelleborg Group comprises three business areas: Trelleborg Industrial Solutions, Trelleborg Sealing Solutions, and Trelleborg Wheel Systems. The acquisition of Minnesota Rubber & Plastics was fully financed with the help of a bridge loan. The company has annual sales of approximately SEK 2,250 million and a total of eight manufacturing facilities globally, with four in the US and the remainder in Mexico, England, the Czech Republic, and China.
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Frequently asked questions
Minnesota Rubber and Plastics is now owned by the Trelleborg Group.
The Trelleborg Group is a world leader in engineered polymer solutions that seal, damp and protect critical applications in demanding environments.
The Trelleborg Group's acquisition of Minnesota Rubber and Plastics was finalised in August 2022.
Minnesota Rubber and Plastics manufactures moulded elastomeric and thermoplastic components.
