CRP has annual sales of more than SEK1 billion and about 500 employees primarily in the UK and US. The acquisition is expected to increase Trelleborg’s oil and gas sales to 7-8% of the group total.

The deal will be done through Trelleborg’s Engineered Systems business area and, according to chief executive Peter Nilsson, will give the company a significant foothold in a prioritised growth area.

“We have been following CRP for some time and are delighted to now reach an agreement regarding the acquisition of this global leader and its extensive technological and market expertise,” Nilsson said.

“This acquisition will additionally increase our focus on profitable segments and further improve the balance in the group.”

CRP’s operations are primarily related to the offshore oil and gas sector, for which it develops systems for seismic surveys, drilling operations and sub-sea production, solutions for deepwater flow assurance and buoyancy, and many specialised engineered polymer-based technologies.

Trelleborg Engineered Systems president Lennart Johansson said CRP had a good earning capacity, which Trelleborg hoped to further develop.

“Its order backlog for 2006 is at a good level and we believe the market will be strong over the next few years. However, it is important to remember that this business is almost entirely project-related, which entails great variation in order bookings and consequently also in invoicing between different quarters,” Johansson said.

CRP was founded in 1974 and has production units in Skelmersdale and Barrow-in-Furness in the UK, and Massachusetts and Texas in the US.