Swedish engineering company Trelleborg has, through its Trelleborg Industrial Solutions unit, signed an agreement and finalized the acquisition of the LNG transfer systems provider Signum Technology.
The group delivers safety critical solutions for flow control for the oil, gas and petrochemicals industries, such as marine breakaway couplings and LNG transfer systems.
“We are very pleased to announce the acquisition of Signum. Combined, we are creating a very attractive offering of integrated packages and safety critical systems for both LNG ship-to-ship and ship-to-shore transfer in demanding industries,” said Jean-Paul Mindermann, president of the Trelleborg Industrial Solutions business area.
The acquisition complements and extends Trelleborg’s product portfolio and strengthens Trelleborg as a system provider, primarily to the fast-growing LNG transfer market segment, the company said in a statement on Thursday.
The group is headquartered in Wiltshire, England, with manufacturing in the U.K., and service centers globally.
Sales totaled approximately 410 million Swedish Krona ($43.7 million) in 2018.
This bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.