ContentsSummary of operations 2Group Managing Director’s Report 4Sales per employee 6Report of the Board of Directors 7Research and development 8Personnel 8Financing, Liquidity, Solvency, Investments 9Business Sector: Technical Rubber 10Business Sector: Trellex 12Business Sector: Industrial Supplies/Products 13Business Sector: Industrial Supplies/Trading 15Business Sector: Tyres 16

Business Sector: Special Products 18Other information, proposed distribution of profits - 21Trelleborg Shares 22Source and Application of Funds Statement 24Profit and Loss Account 25Balance Sheet 26Notes to the Financial Statements 28Report of the Auditors 3310-year Review 34Board of Directors, Auditors, Group Management ___ 35Rubber - a superior material 37Trelleborg in the World Market 40

Financial information and reportsTrelleborg regularly publishes information on Group develop-ment. A preliminary report on the 1984 accounts was pub-lished on 28th February, 1985. Final accounts were pre-sented on 28th March, 1985.

The Annual Report wi l l be published at the beginning of May,1985. An interim report covering the first 8 months' of 1985operations will be published on 10th October, 1985.

Annual and Interim Reports wi l l be sent direct to those share-holders who have informed VPC that they wish to receivethem. The reports can also be ordered directly from Trelle-borg AB, information Dept, S-231 81 Trelleborg, Sweden.

Reader informationFigures quoted in brackets in the Annual Report refer to 1983operations unless otherwise stated. SEK, Swedish Crownsare used throughout. SEK million are abbreviated SEK M andSEK thousand, SEKT. All amounts refer to SEK M unlessotherwise stated.

OrganisationThe Group is organised in six Business Sectors (see detailedinformation on pages 10-20).

The organisation also includes the following corporate func-tions:

* Administration* Data/Computer Systems* Engineering/Plant Services* Finance* Information/PR* Internal Audit

* Laboratory* Legal Services* Materials* Personnel* Purchasing

Corporate entities within the Group are listed on page40-43.

Annual General MeetingThe Annual General Meeting will be held in Trelleborg onThursday 30th, May 1985, at 4.30 p.m.

Notification of attendanceShareholders who wish to attend the AGM must notify theCompany of their intention not later than 3 p.m. on Tuesday28th May, 1985, either by telephone (Int + 4 1 0 ) -514 19/511 03 (direct lines) or 510 00 (switchboard), or in writing toTrelleborg AB, Legal Department, S-231 81 Trelleborg,Sweden.

Qualifications for attendanceCompany practice conforms with the law on the simplifiedhandling of shares. To qualify for attendance Shareholdersmust be registered with the Swedish Securities Register Cen-tre (Värdepapperscentralen VPC AB) by 20th May.

Shareholders whose shares are managed by a bank or pri-vate stockbroker must arrange for their shares to be regis-tered in their own names with VPC by 20th May.

DividendThe Board of Directors and the Managing Director propose adividend of SEK 1.40 per share for the 1984 Financial Year.

Dividend qualificationsIn order to qualify for the dividend, 4th June, 1985 has beenproposed as the date of record with VPC. As a result,dividends should be paid by VPC on 11 th June, 1985.

Change of addressShareholders who have changed their address must notifyVPC in writing at the following address - P.O. Box 7444, S-103 91 Stockholm, Sweden.

Annual report of Trelleborg ABThe Board of Directors are pleased to submit the AnnualReport and Group Consolidated Accounts for 1984.

Summary of operationsGroup, (SEK M unless otherwise stated)

1984 1983 1982

Invoiced sales 1,861 1,702 1,620of which abroad % 51 52 52

Profit:after financial income and expenses 107.4 45.9 31.4

before allocations and taxes 107.1 47.0 19.6

Return %:on equity 15.7 11.0 8.5

on assets 12.4 8.6 9.0

on capital employed 16.8 11.8 12.2

Interest cover 2.3 1.7 1.3

Equity ratio % 34.2 32.9 27.4

Risk capital % 41.2 37.0 30.9

Investment in plant, gross +132 +112 +63

Investment in plant, net + 60 – 5 +51

Average number of employees 4,466 4,680 5,169

Profit, SEK per share:after deduction of a 50% assumedstandard tax 6:40 2:75 1:85after deduction of final tax 7:50 4:75 2:95after full conversion and 50% tax 6:30 — —

after full conversion and final tax 7:30 — —

Visible equity, SEK per share 50:30 44:95 41:30

Adjusted equity, SEK per share 50:30 44:95 41:30

Dividend, SEK per share 1:40* 1:40 1:20

*} proposed by the Board of Directors

For definitions of key figures see note on page 28

2

Sales and return on capital employed per business sector

Invoiced sales Return on(external) SEK M capital employed

1984 1983 Change 1984 1983

Technical Rubber

Trellex

Industrial Supplies/Products

Tyres

Special Products

Industrial Supplies/Trading

Other

Total

507 460 +10% 18% 15%

295 295 +- 0% 18% 10%

284 272 + 4% 9% 6%

279 261 + 7% 20% 20%

270 236 +14% >20% >20%

176 146 +21% 18% 18%

50 32

1,861 1,702 + 9% 17% 12%

Invoiced sales by business sector

Technical Rubber27%

Tyres15%

Industrial Supplies,Products 15%

Invoiced sales by market

USA, Other

Other European

Canada 5% markets 5%

Trellex16%

140

100

60

- 4

- 6

countries 31%

Other Nordic countries 10%

Sweden 49%

1979 1980 1981 1982 1983 1984

3

The Group Managing Director’s Report

During 1984 we succeeded in improving our profit by morethan 130 per cent in spite of a virtually unchanged salesvolume and a reduced production volume due to lower stocklevels. The increased profit was achieved mainly throughimproved productivity in our plants, considerably reducedfixed costs and an increased capital turnover rate with resul-ting lower interest charges. Stock levels were reduced by 14per cent in real terms.

Except for the mining sector which in any case has been fairlydepressed, Trelleborg has only a small share of the internatio-nal market in many areas. Therefore the economic situationoutside the mining sector has rather little influence on ourexports. The Swedish manufacturing industry, on the otherhand, is very important to our domestic sales. In simple termsone can therefore say that Trelleborg has been assisted bythe upward trend in the home market while the upturn inexport profitability has been mainly due to improvements ininternal efficiency.

Risk spreading means less dependence oneconomic trendsWhile the world’s rubber industry as a whole supplies morethan 75 per cent of its production to the motor industry theequivalent share in the case of Trelleborg is less than 10 percent. More than 30 per cent of our supplies for example arefor the mining, steel and building industries. We are alsomajor suppliers to the agricultural and forestry sectors. Even ifthis is a disadvantage from the point of view of the marketsituation at the moment, we believe our risk spreading policyto be a sensible one in the long term. In spite of the fairlyfavourable trend in the motor industry, European rubber ma-nufacturers are at present faced with considerable problemswith regard to profitability. This not only concerns tyre manu-facturers but many major producers of industrial rubber.

Specialisation equals profitabilityThe reason why Trelleborg and a small number of other majorEuropean rubber manufacturers can show a profitability thatconsiderably deviates from the general pattern can mainly beattributed to our deliberate policy towards a greater degree of

4

specialisation. Today less than 25 per cent of our productionconsists of so-called standard products. We are today one ofthe most specialised and high-technological companies with-in the European rubber industry.

Investments for the future during 1984Coupled with considerable internal restructuring which highlyimproved our productivity during 1984 we have made impor-tant investments for the future in some areas.

One of the most important was the acquisition of Atlas A/SDen Norske Remfabrik, Norway’s leading manufacturer ofindustrial rubber with an annual turnover in excess of SEK100 M. This acquisition considerably strengthens our positionin Norway and the European conveyor-belt market.

We have also acquired distribution companies in the Nether-lands, Great Britain and Australia with a turnover totallingapproximately SEK 35 M and set up a new sales company inFinland. Considerable marketing investments have also beenmade in other Western European countries and in NorthAmerica.

During 1984 we invested approximately SEK 110 M inmachinery and equipment (exclusive of units acquired). Thisis equivalent to more than double the planned depreciationvalue.

These investments, coupled with improvements in efficiencythat have already been implemented, form a solid base forour future expansion and continued improved profitability.

Simple and clearly defined goals are importantWhen in 1983 we began the restructuring of Trelleborg nowgoing on we set ourselves one simple, clearly-defined goal forall business sectors and divisions. This was to achieve areturn on capital employed (see definition on page 28) of atleast 20 per cent.

We therefore consider all sectors that have not reached thistarget or are well on their way to doing so as real or hiddenproblem areas which are given great attention. In 1984 wehad only one business sector which was still well off targetnamely Industrial Supplies/Products, with a return of only 9per cent. We should, however, remember that this sectorshowed a loss as late as 1982, and in 1983 yielded only 6 percent. The direction and speed towards the target indicatesthat we should reach it in a few years. Our first priority is nowto increase our activities in the Industrial Supplies/Tradingsector which operates as retailers for the Industrial Supplies/Products sector.

Acquisition policy - Emphasis and requirementsfor successNow that we have achieved reasonable profitability in mostunits it is time to look at the world around us. Apart fromcontinued expansion through increased internationalisation incertain special areas where the Group can offer unique pro-ducts - but has low international market shares-we mustexpect future growth to come mainly from acquisitions.

What we have carried out in 1983-84 and what we areplanning for the future falls within the following categories:

— Acquisitions made for integration in the Supplies Sectorfor example the purchasing of distribution companies likeCofic in France and Cleton & Meijer in the Netherlands.

– Acquisitions aimed at reaching co-ordination in the pro-duction and/or market segments such as the NorwegianAtlas.

— Acquisitions aimed at opening new marketing chan-nels or finding collaboration partners for our ownproducts, mainly in areas where our international market-ing organisation is weak but where our products are strongas in the field of Special Products.

Since I joined the Trelleborg Group nearly two years’ ago Ihave found that we are well equipped to pursue an activeacquisition policy. To do so requires international experience,flexible thinking and a respect for different busines cultures,

. all combined with firmness in basic policy questions.

There are few industrial rubber manufacturers that are moreinternationalised than Trelleborg with subsidiaries that havebeen established for decades in almost 20 countries. MaybeTrelleborg’s previous profitability problems and resultingchanges in the 70’s and 80’s have created the flexibility andreadiness for change that I today find in abundance amongthe Group’s employees,

New development companyAt the same time as we have decided on a plan of action inour different business sectors – often resulting in a con-centration in the product area – we have deemed it important

not to cut ourselves off completely from new and differentventures. To balance our own central philosophy of con-centration we have therefore decided to set up a newdevelopment company, AB Convectus, together with the 4thNational Swedish Pension Insurance Fund, The SwedishInvestment Bank and the Swedish Staff Pension Society. InAB Convectus will be included our precision engineeringcompany Ing Torsten Ullman AB and our own developmentcompany Trinova AB. It is in the nature of things that manynew business ideas will give the new development companyits character, We believe it to have a great future and willstake approximately SEK 30 M in the new company. This isroughly equivalent to one third of its share capital.

Forecast for 1985As previously stated our long-term aim is for the Group toreach a return of 20 percent on capital employed. This yearthat would be the equivalent of a profit of approximately SEK170 M after financial income and expenses. It would probablybe too optimistic to expect that we can take the full step fromthe SEK 107 M in 1984 to 170 M in 1985. We should,however, be able to reach the halfway mark of approximatelySEK 140 M this year. I base this forecast on a virtuallyunchanged economic situation and thus a continued lowincrease in volume – prospective acquisitions not included,

April, 1985

Rune Andersson

Trelleborg Atlas A/S is Norway’s largest industrial rubber company with aturnover in excess of SEK 100 M. lts main products are conveyor belts andheavy duty hose which are manufactured at the Kongsvingerplant.

5

Sales per employee and related informationTrelleborg’s 1984 results calculated per Our profit was SEK 24,000 per employee as against SEK

employee 9,800 in 1983.

In 1984 our total sales amounted to SEK 416,700 peremployee. This represents an increase of 15 per cent com-pared with the previous year.

Our sales abroad equalled SEK 211,500 per employee. Inother words we sell in the region of 50 per cent abroad.

Salaries and wages averaged SEK 97,400 per employee and(in Sweden) social costs amounted to SEK 41,900 peremployee.

The proposed dividend to shareholders is SEK 1.40 pershare which is equivalent to SEK 2,600 per employee. Thedividend represents an Interest rate of 5.6 per cent based onnominal share value. Calculated on 1984 share prices therate of interest would be considerably lower. The dividendcan be compared with bank deposit rates which in 1984averaged 9.5 per cent.

We invested SEK 29,500 per employee in new machinery,etc and SEK 17,000 in research and development.

How was Trelleborg’s money spent in 1984?This is how our 1984 sales income of SEK 1.861 M wasdistributed:

Employees (salariesand social costs)

624 SEK M, 33.5%

Depreciation (replacementof worn-out equipment)

Suppliers (raw materials,energy, rents, trans-

portation etc) 1,056 SEK M

44 SEK M, 2.3%

lnterest 30 SEK M, 1.6%

Taxes 4 SEK M, 0.2%

Dividends to shareholders12 SEK M, 0.6%

Profit retained in the company

6

91 SEK M, 4.8%

Report of the directorsGroup ReportGroup invoiced sales in 1984 amounted to SEK 1,861 M(1983: 1,702). Invoiced sales for comparable units increasedby 10 per cent in absolute terms and with adjustments made 16

for Inflation, the real volume increase is estimated at 3 per cent.

In March, 1984 Group profits were estimated at approx-imately SEK 70 M before extraordinary items, allocations andtaxes. At the May AGM the forecast was revised to slightlymore than SEK 90 M and in the October Interim Report to 12

SEK 100 M. The real outcome was SEK 107.4 M (1983: 45.9)which is equivalent to SEK 6.40 per share (2.75) after deduc-tion of a 50 per cent assumed standard tax and SEK 7.50(4.75) after final tax.Group profit before allocations and taxes amounted to SEK107.1 M (47.0). After allocations and provisions for taxes, net 8profit for the year amounted to SEK 20.5 M (39.4).

Structural changesIncluded in the Trelleborg Group as from 31 December, 1984are Atlas A/S Den Norske Remfabrik (now Trelleborg Atlas 4

A/S), two recently acquired distribution companies in GreatBritain and Australia respectively, and a new sales companyin Finland with an annual turnover totalling more than SEK100 M. As from 1 January, 1985 a distribution company inthe Netherlands with a turnover of close to SEK 30 M alsobecame part of the Group.On the other hand, Ing Torsten Ullman AB in Moheda (sub-contractors of precision engineering products for the auto-motive and manufacturing industries) and the innovationcompany Trinova AB with an annual turnover totalling appro-ximately SEK 80 M were transferred in March, 1985 to a newindustrial development company, AB Convectus. Trelleborgowns 38% of the shares in that company, Dunker Fund andFoundations 5%, the 4th National Swedish Pension Fundand Stiftelsen Småföretagsfonden (the Swedish Investment 8

Bank) 19% each and the Swedish Staff Pension Society andthe AMF Labour Market Insurance Company 9% each. Aninitial equity of SEK 80 M offers the new company an excel-lent opportunity to invest in industry.The main business concept of AB Convectus is to develop 6

inventions and projects and also small and medium sizecompanies by utilising effects of industrial co-ordination. Pro-duct areas of particular interest in the first phase are rubber,plastics and metals. Projects will be given priority where thetechnical competence of the Trelleborg Group can improveexisting know-how and where Trelleborg international opera-

4

tions can be used.

Extraordinary income and expensesIn 1984 the manufacturing of conveyor-belts and rubbercompounds in Hamburg was discontinued. Remaining pro- 2

duction (moulded components, hoses and extruded profiles)was transferred to a new plant in Wasbek/Neumünster(Schleswig-Holstein).The costs of this and other minor restructuring during theyear are included in extraordinary items as is the profit on saleof industrial fixtures and fittings connected with the 1983property sales to the Swedish Staff Pension Society.

Return, %

10

1980 1981 1982 1983 1984

7

Research and development1984 was characterised by increased investments in newtechnology and new products in the business sectors whilethe Central Laboratory in Trelleborg was concentrating moreon developing new materials and finding new areas ofapplication. In all, the costs of research and developmentamounted to approximately 4 per cent of turnover. Of this thebusiness sectors accounted for more than two-thirds.

In collaboration with the Swedish Institution of Rubber andPlastics Technology, extensive tests on the durability of ther-moelastics (TPE), aged in different environments, have beencarried out for more than three years.

Resistance to solvents, oils and aggressive chemicals is animportant property of many types of hose. In order to complywith particularly strict specifications a technique is beingdeveloped for the manufacture of hoses with tubing andcover made in various material combinations.

Improved wear-resistant rubber materials for linings are con-tinually tested in a number of different mills. A special processhas been developed for the new magnetic lining “Orebed”aimed at obtaining satisfactory adhesion between wear-resistant rubber and the very hard magnetic material.

Increased heat tolerance for oil-resistant rubber materials isimportant particularly in motor vehicles where under-the-bonnet-heat tends to increase each year. Tests are beingcarried out aimed at finding optimal solutions to these newrequirements in vulcanisation systems, filling agents, metallicoxides, antioxidants, etc.

A unique so-called skimmer boom has been developed foruse in the offshore industry. Where an oil leak has occurreddecontamination work can often be carried out by use of ahydraulically controlled skimmer. The hose linking the skim-mer to the decontamination ship is made up as a packageconsisting of one oil hose, six hydraulic hoses, floating ele-ments and rubber coated fabrics. Practical tests are beingcarried out.

By twisting yarns with different properties in order to obtainso-called hybrid yarns, interesting combination effects can be

Invoiced sales, SEK M

achieved. One example is an improvement of the super-strong aramide fibre’s fatigue-resistance properties by twist-ing it with polyamide which would increase developmentpotentials e.g. for new tyres and V-belts.

Hot melt adhesion technique, the use of thermoplastic- orthermoelastic-based adhesives free from solvents, offerimproved technical conditions for the manufacture of hosesand protective products.

Intensive development work is carried out in the field ofmaterials used in protective clothing which will enable thembreathe and at the same time to absorb toxic gases. This canbe achieved by the combination of an outer layer which is awater and oil repellant fabric and an inner layer of activatedcarbon/cellular plastic.

The fatigue-resisting properties have a decisive bearing onthe durability of dynamically-working rubber products, suchas dampers, vehicle tyres, V-belts, conveyor-belts and cer-tain hoses. New, faster and more simple test methods arebeing studied by the Trelleborg Central Laboratory on behalfof the Swedish Institution of Rubber and Plastics Technology.

In collaboration with the Alfa-Laval Materials Laboratory inTumba, a new method has been devised to detect possibledeterioration in the taste of foodstuffs which are in contactwith polymer materials such as hoses and conveyor-belts.

PersonnelThe average number of employees within the Group, basedon paid hours of attendance, during 1984 reduced by morethan 200. The major part of the reduction was at the ParentCompany in Trelleborg and chiefly due to the close-downof bicycle-tyre manufacturing and also a production stop-page in certain units in connection with the holiday period inorder to bring down stocks of finished products.

Concurrent with continuing cut downs due to natural retire-ment, early retirement, etc, selective recruitment of certainspecialist personnel began in 1983 mainly within the fields ofmarketing and technology. This development continued onan increasing scale in 1984.

Average number of employees

Foreignsales

ExportsfromSweden

I Salaries andsocial costs.SEK M 1980 1981 1982 1983 1984

8

1980 1981 1982 1983 1984

Average number of employees

1984 1983

Parent Company 2,494 2,643Other Swedish companies 1,117 1,142

Total Swedish companies 3,611 3,785

Of which collectively employed 2,433 2,553salaried staff 1,178 1,232

Manufacturing companies abroad 533 577Sales companies abroad 322 318

Total companies abroad 855 895

Total Trelleborg Group 4,466 4,680

Of these collectively employed 2,904 3,049salaried staff 1,562 1,631

The figures stated for the average number of employees hasbeen calculated by reference to the number of annual work-ers on the recommendations of the Accounts Committee.

As stated in the introductory report the Norwegian companyAtlas is included in the Group as from 31 December, 1984and the Dutch company Cleton & Meijer as from 1 January,1985. At the turn of the year these two companies employedin the region of 200 and approximately 50 people respec-tively. On the other hand, the Unman and Trinova companieswith a total of 270 employees were transferred to AB Con-vectus in March, 1985 and are no longer included in theGroup,

Salaries and remunerations

SEK M Group Parent Company1984 1983 1984 1983

Boards and ManagingDirectors 7.7 7.7 1.3 1.3Other employees 428.5 417.6 235.9 223.6

436.2 425.3 237.2 224.9

Social costs* 151.7 139.3 104.0 97.2

*) Refer to Sweden only

Equity ratio, %

32,9 34,2

26,7 27,425,1

1980 1981 1982 1983 1984

Accounted for in special tables on page 33, notes 20and 21 are the number of employees as well as salaries andwages distributed on work places with more than 20employees and on countries respectively.

Financing, liquidity and solvencyContinued improvement in liquidity andsolvencyThe net borrowing of the Group (interest-bearing liabilities,excluding liabilities to the Pensions Registration Institute, lesscash) decreased during 1984 by SEK 69,7 M exclusive ofunits acquired (1983: –202.6).

Liquidity continued to improve. At the end of the year liquidassets amounted to SEK 244.4 M, an increase of SEK 19.3M from the beginning of the year. At the end of 1984, therewere also unutilised overdraft facilities amounting to approx-imately SEK 180 M.

The Parent Company during the year also made a specialissue of convertible debentures to employees in the Swedishbased part of the Group. The amount issued, SEK 20 M, wasfully subscribed.

Already implemented and planned Government measures inthe form of raised deposit quotas on allocations to a generalinvestment fund, advancement of payments to certain Gov-ernment charges and compulsory deposits in so-calledliquidity withdrawal accounts and renewal accounts, nega-tively influenced net interest and are, in reality, added indirecttaxes on the Group operations.

Solvency in the Trelleborg Group (see definition on page 28)increased during the year from 32.9 to 34.2%.

Considerable increase in capital turnover rateCapital tied up in stock and accounts receivable lessaccounts payable were, during 1984, reduced by SEK 15.2M (1983: –30.2) for comparable units.

The ratio to invoiced sales was strongly improved as can beseen in the following table:

1980 1981 1982 1983 1984

Stock % 27.9 29.0 28.6 26.5 22.8Accounts receivableincluding billsreceivable % 18.8 18.1 19.3 17.6 17.9Accounts payable andbills pavable % 8.6 8.2 9.0 8.9 9.4

Total % 38.1 38.9 38.9 35.2 31.4

The Group’s capital turnover rate during the year improvedby approximately 10%.

InvestmentsGross investments in fixed assets in 1984 amounted to SEK132 M (1983: 112), The major part were investments inimproved efficiency.

9

Business Sector: Technical RubberSweden Rest of Europe

58% 34%

Share of totalGroup sales = 27%

Invoiced salesby market

Othermarkets

9%

Manager: Bo ForsénInvoiced Sales: SEK 507 M (460)Of which abroad: 42% (45)Return on capital employed: 18% (15)Number of employees: 1,260 (1,220)Main products: Advanced moulded products, combined rub-ber/metal products, sealing strips, battery containers.Competitors: There are a large number of competitors inmost product areas both in Sweden and abroad. The num-ber of manufacturers of rubber battery containers has con-siderably reduced during the last few years.

Stable growth, improved profitabilityDuring 1984, all units showed improved growth and pro-fitability.

The Moulded Products Division which accounts for the heavymoulded and rubber/metal range of products has enteredinto a number of long-term collaboration agreements withmore important customers aimed at intensifying the develop-ment of new and better products and also to reduce timespent and the tying up of capital in every stage.

10

Sigma AB in Örebro with its subsidiary companies TekniskaGummifabriken Jakobsberg AB and Ulvex AB in Brommahave further established themselves as the leading manu-facturers of moulded precision components in Sweden. Theexport share has also increased considerably which under-lines the competitiveness of these companies. This is mainlydue to their excellent production techniques. In the Ulvexcompany, development resources have mainly been concen-trated on the departments manufacturing moulded medicalcomponents and hoses supplied in short lengths.

In spite of the depression in the building industry, theExtruded Profiles Division in Värnamo has increased itsinvoicing volume mainly by concentrating its resources onexports and the manufacturing industry. A new system forsecondary glazing was successfully launched in 1984. It iseasy to mount, has excellent insulation properties and sooffers a very interesting alternative for improved heating Moulded precision components from Sigma AB in Örebro.

11

economy.

The Battery Container Division in the Netherlands operated atvery high capacity during the whole of 1984. This led tofurther improvements in productivity in both the manufactur-ing and distribution stages.

Business Sector: Trellex

Manager: Thomas OldérInvoiced Sales: SEK 295 M (295)Of which abroad: 84 % (86)Return on capital employed: 18 % (10)Number of employees: 265 (275)Main products: Expertise in mineral processing with specialistproducts and systems for milling, screening, dressing, mate-rials handling and wear protection.Competitors: Other rubber companies, many of which arelocally restricted. There is also competition on the materialsside between rubber and steel. Conveyor belts are subject toconsiderable international competition.

Marked improvements, increased expansion ratethrough acquisitionsThe mineral processing industry which is the most importantarea of this business sector continued to be depressed in1984. Concentration on new products and markets did,however, prove fruitful and 1984 turned out to be a good yearfor the business sector as a whole. The Grinding Division inparticular achieved considerable success.

“Orebed” magnetic mill linings were first introduced last year.Marketing efforts continued according to plan with excellentresults in the Swedish iron and steel industry among others.“Trellex” rubber linings have long been successfully estab-lished on the world market. Their leading position was furtherstrengthened during the year.

The United States and Canada were the two single marketsthat showed the highest growth rate during 1984. A con-siderable increase in new orders was also noted in Africaand Australia.

In the Belting Division the year began with a low intake of neworders and a very competitive price situation. During theautumn a marked improvement took place. Several largeorders were placed for “Trellamid” belts. “Trellamid” whichwas introduced two years’ ago is reinforced with aramidefibres and possesses qualities which result in considerablyreduced operating and maintenance costs for the user. Itslow weight compared to that of steel-reinforced belts offersconsiderable energy savings.

Rest of Europe Sweden47% 16%

Share of totalGroup sales = 16%

Invoiced salesby market

Othermarkets

37%

Another interesting product is “Trellgrip”, an anti-skid systemfor conveyors which has been introduced as standard by forexample LKAB in Sweden and which is now sold all over theworld. Sales are expected to double in 1985.

The previously mentioned acquisition of Atlas A/S DenNorske Remfabrik - now Trelleborg Atlas A/S - should resultin considerable growth in this business sector during 1985.Atlas main products, with a sales value of approximately SEK100 M in 1984, are conveyor belts and materials handlinghoses. Considerable co-ordination advantages between Trel-leborg and Atlas are expected on the production side as wellas in the marketing stage in 1985.

In Finland, a new sales company was set up in 1984. Acompany responsible for manufacturing, distribution and ser-vice of the different products in this business sector wasacquired in Western Australia.

During 1985 a sustained, positive development is expected inthis business sector as the result of marketing efforts made inNorth America and certain European countries and anintroduction of further new products. Investments and moreefficient production methods will also contribute towardsimproved profitability.

One of the largest Trellex-linings can be found in an autogenous mill forcrushing iron ore in Gubkin Southern Russia.

12

Business Sector: Industrial Supplies/Products

Rest of Europe74%

Sweden Other14% Markets

12%

Manager: Claes SvenssonInvoiced Sales: SEK 284 M (272)Of which abroad: 86% (76)Return on capital employed: 9% (6)Number of employees: 430 (550)Main products: Special hoses for fuel, compressed air,chemicals, hydraulics, etc, vibration insulators, rubber sheet-ing, rubber mats, V-belts. Manufacturing units are situated inSweden, West Germany and the Netherlands.Competitors: All products are subject to tough internationalcompetition, often from countries with considerable lowerlabour costs than Sweden.

Share of total Invoiced salesGroup sales = 15% by market

Still well off targetAlthough profitability improved during 1984 further drasticchanges will be necessary in this business sector in order toreach the long term target of a 20 per cent return on capital.

The target has already been reached or exceeded for vibra-tion insulators, rubber sheeting and rubber mats togetherwith certain special hoses. Remaining problems are standardproducts in the fields of industrial hose and transmission.Here, further reductions to the manufactured range andfurther strong improvements in internal efficiency will benecessary.

The 1984 profit was negatively influenced by the removal ofthe West German production unit and down-time costs inconnection with considerable stock reductions.

13

Uneven picture for industrial hoseTrelleborg with its modem equipment and high productivityis one of Europe’s biggest manufacturers of industrial hoses.This, however, is counteracted by our competitors’ consider-ably lower labour costs. Bulk commodities still acoount formore than 50 per cent of our total range and internationalcompetition is very tough. In order to achieve acceptableprofitability, extensive internal rationalisation must take placetogether with continued integration.

The share for special hoses with a high technology contentand strict demands on application know-how is increasingconsiderably. Profitability in this area is satisfactory.

Positive hydraulic hose developmentThe extended capacity at our factory in the Netherlands wasfully utilised during 1984. Demand for hydraulic hoseincreased in Europe and developments in the United Statescontinued to be positive.

Profits were negatively influenced by initial costs for increasedutilisation of Trelleborg’s international sales organisation. Dur-ing 1985, a return on capital close to the 20 per cent targetshould be achieved.

Novibra highly profitableThe Novibra range with its rubber/metal products for vibra-tion insulation and shock absorption puts considerabledemands on calculation and construction. Requirements foran improved working environment are gradually growing out-side Scandinavia which further strengthens developmentopportunities in this field. The export share is already inexcess of 60 per cent and profitability is satisfactory.

Rubber sheeting - a profitable bulk commodityTrelleborg is also one of the major manufacturers of rubbersheeting and rubber mats in Western Europe. Efficient pro-duction methods and marketing techniques have made highprofitability possible in spite of the products’ bulk commoditycharacter.

In order to retain profitability steps are being taken to furtherimprove efficiency in the selling stage and to increase theshare of products with a high technology content, for exam-ple rubber mats for public buildings.

Changes in the field of transmissionThe product range in the transmission field is very wide withV-belts of various construction based on different polymersand manufacturing processes. Trelleborg has traditionallybeen active in almost all production segments without beingable to achieve a dominating position in any one.

In 1984, we started to concentrate on the manufacture of aspecialist range and will continue to do so during 1985. At thesame time, marketing through our Industrial Supplies/TradingBusiness Sector will be intensified.

Hose and rubber sheeting are the two most important product groups inBusiness Sector Industrial Supplies/Products.

14

Business Sector: Industrial Supplies/ ITradingManager: Claes SvenssonInvoiced sales: SEK 176 M (146)Of which abroad: 7% (10)Return on capital employed: 18% (18)Number of employees: 220 (230)Main products: The business sector is a pure tradingorganisation with a nation- wide network of local industrialsupply depots with a carrying range of hoses, V-belts, rubbersheeting, etc and well adapted to local demand. A similardistribution system is being developed in Norway, Great Bri-tain, the Netherlands and France.Competitors: Independent local distributors generally with noparent company connection.

I Share of totalGroup sales = 9%

Continued expansion

Industrial Supplies/Trading now operates its own depots in about 20 loca-tions covering the whole of Sweden. A similar distribution system is beingestablished in Norway, Great Britain, the Netherlands and France. The newKalmar office is pictured above.

Sweden

lnvoiced salesby market

Othermarkets

7%

Expansion of the Trading organisation outside Sweden con-tinued during 1984. The acquisition of the Norwegian Atlascompany brought with it six new sales offices in importantNorwegian industrial centres. The Cleton & Meijer companyoutside Rotterdam which was acquired at the beginning of1985 will be used as a supply depot to look after local needsin an area responsible for more than 40 per cent of industrialactivity in the Netherlands. In conjunction with these newacquisitions, considerable savings have been made in thesales organisation of each country.

Very positive development in SwedenDuring the year a further two sales offices were established inSweden (Kalmar and Umeå). It follows that Trelleborg cannow offer local service through its own depots in about 20locations all over Sweden. Resources for local service in thehydraulics field have been considerably expanded. Trelle-borg’s own product range is continuously being increasedwith purchased products of a supplies character. In spite ofyearly investments in new sales offices, profitability issatisfactory.

Continued integrationDevelopments in the Swedish sales organisation and ananalysis of the 1984 acquisitions point towards continuedexpansion of the trading organisation as a means of reachingthe profitability target not only for this business sector but,indirectly, also for our Industrial Supplies/Products businesssector.

Business Sector: Tyres

Manager: Kjell Hallberg Low-profile tyres - a fast growing productInvoiced sales: SEK 279 M (261)Of which abroad: 43% (44)Return on capital employed: 20% (20)Number of employees: 400 (450)Main products: Tyres, tubes and complete wheels for fore-stry, agricultural and industrial vehicles. Special tyres for milit-ary applications as well as tyres for aircraft, garden equip-ment and motorcycles.Competitors: Strong international competition in the standardproduct range.

The leading product in this business sector is low-profile tyresof our own construction with a larger surface area and lowerpressure than conventional tyres. They are marketed underthe trade name of “TWIN” and are mainly for use in theagriculture and forest industries and exported all overEurope. In spite of the recession in the agricultural machinerysector sales increased considerably in 1984. Manufacturingcapacity was extended and this bodes well for furtherincreases in sales in 1985 and thereafter.

Sweden57%

Rest of Europe42%

Share of totalGroup sales = 15%

Invoiced Salesby market

Othermarkets

1%

The large contact area and low pressure of the TWIN-tyre results in reducedsoil compaction and superior mobility.

16

Development of special tyres in selected areasThe objective of those concerned with exports in the busi-ness sector is to develop special tyres in select areas whereconventional tyres are unsuitable. Among other products, anew special range for green areas such as parks and golfcourses was launched in 1984. This year the range will beintroduced on a larger scale in the European and UnitedStates markets.

Motorcycle tyres – with an export share of 50 per cent –developed favorably in 1984. A new range was producedduring the year and is expected to result in increased salesduring 1985.

A higher degree of specialisation is also underway in lightstandard tyres. Here, competition from low-price countriesincreased very strongly and had a negative influence onexport sales and profits in 1984.

The subsidiary company Swedish Tyre AB in Helsingborgsells an increasing part of its production of inner tubes tocustomers outside the Trelleborg Group. Profitability issatisfactory.

The closure of Trelleborg’s own bicycle tyre production line –with the exception of very limited production to cater foremergencies – was completed in 1984.

Own production supplemented by agenciesIn Sweden a complete tyre range is marketed for use inagriculture, forestry and industry. Trelleborg’s own produc-tion is supplemented by a number of agencies. The latestaddition is heavy duty radial tyres from the Hungarian com-pany Taurus, one of Europe’s biggest rubber manufacturerswhose tractor radial tyres for many years have been mar-keted on an agency basis.

1984 saw the launching of a new specially designed tyre range for use inparks, on golf courses and other green areas.

17

Business Sector: Special ProductsManager: Rune AnderssonInvoiced Sales: SEK 270 M (236)Of which abroad: 25% (35)Return on capital employed: >20% (>20)Number of employees: 615 (625)Products range: In this business sector are included theProtective Products Division (Ystad), the Roll Covering andLining Division (Trelleborg), the Sheeting and Material Divi-sions (Värnamo) and Ing Torsten Ullman AB (Moheda) andthe development company Trinova AB (Trelleborg).

Sweden75%

Share of totalGroup sales = 15%

Invoiced salesby market

Othermarkets

2%

Protective Products DivisionManager: Sten BengtssonInvoiced Sales: SEK 72 M (61)Of which abroad: 26% (21)Number of employees: 153 (142)Main products: Products for personal and environmental pro-tection, such as masks, fire and chemical protective clothing,inflatable hospital and rescue tents, oil booms, dock-gateinsulation.Competitors: In the manufacturing stage, mainly Scandina-vian and European rubber manufacturers. In the distributionstage there is also competition from companies specialisingin protective and safety equipment.

Trelleborg’s highly-specialised chemicals’ protection programme waslaunched in the USA and Canada during 1984.

The Division’s highly specialised chemicals’ protection prog-ramme has been successfully launched in a number of Euro-pean countries. In order to create an improved platform forexpansion in the German market a 40% share in InterspiroAB’s German subsidiary was acquired in 1984.

Contracts have been signed with the Medical Board of theSwedish Armed Forces for the continued supply of tents untilthe middle of 1988 to a value of SEK 26 M. The SwedishDefence Materiel Administration has placed an order forwater tanks valued at SEK 13 M for delivery in 1985– 1987.

Exports increased by 40 per cent in 1984. Major orders for oilbooms were supplied to West Germany and Poland. Thedock-gate insulation "Tretight” sold well in France and GreatBritain.

Operations will be further internationalised during 1985through expansion in already established European marketsand by the introduction of our chemicals’ protection prog-ramme in the United States and Canada. The export share isexpected to increase to approximately 35 per cent in 1985. The roof of Jomo Kenyatta Intemational Airport in Nairobi is protected by

23,000 square metres of butyl rubber sheeting from Värnamo.

Our factory premises in Ystad will be extended in order tocope with increasing production.

Sheeting and Materials Divisions, VärnamoThe effects of a continued decline in the building trade during1984 and a stagnating renovation and maintenance sector inthe domestic market was more than compensated for byinroads into new markets notably the Far East. The exportshare of the Sheeting Division increased to 70%.

More than half the total volume consists of sheeting for roofsealing. In 1984 earlier efforts in the Nordic countries beganto pay dividends. At the same time there was a steadyvolume increase in roof sheeting in West Germany. In thegeotechnical field such as canals, basins etc 1984 wassomething of an indifferent year. The division consolidated itsposition but profit margins were squeezed due to toughinternational competition. Among notable projects were40,000 square metres of rubber sheeting for a brine basin forthe exploitation of natural gas in Morocco and 22,000 squaremetres of floating cover for a cooling-water reservoir in

Manager: Urban Magnusson Republic of Ireland.Invoiced Sales: SEK 85 M (84)Of which abroad: 47% (48)Number of employees: 122 (128)

Main products: Rubber sheeting for the sealing of roofs,basins, irrigation canals etc, retreading material.

The Sheeting Division has no business connection with otherproduct areas in the Group but aims at a closer connectionwith the building sector. In order to facilitate future collabora-tion with external partners a decision has been made initiallyto make the Sheeting Division a separate limited company.

Competitors: A large number of other rubber companies in all The Materials Division is chiefly a producer of rubber com-parts of the world. On the roofing side, there is also competi- pounds for other production units in Värnamo. It also manu-tion from bituminous board and other conventional roofing factures and sells considerable quantities of retreading mate-materials. rials to external customers. This area increased by 9 per cent

in volume in 1984. Profitability was satisfactory. After severalyears’ decline retreading of used tyres is again showing anincrease which offers hope for favorable development dur-ing 1985.

19

Roll Covering and Lining Division

Manager: Torsten KjellinInvoiced Sales: SEK 43 M (37)Of which abroad: 12% (13)Number of employees: 75 (74)

Main products: Roll covering for the paper and pulp industryetc, corrosion and wear protection covering mainly for themining, chemical and nuclear industries.

Competitors: Relatively few, partly due to advanced spe-cialisation and, in the case of rolls, high freight costs. Maincompetitors to be found in Norway, West Germany andAustria.

1984 showed satisfactory work load and high capacityutilisation. In spite of increased competition the division wasable to consolidate its already high market shares of paperand pulp rolls and advance its position in the area of othercoverings. The recently developed “Clupak” mat whichoffers considerable quality and cost advantages in the manu-facture of sack paper, was introduced to the market in thesecond half of the year and was well received.

Ing Torsten Ullman AB, Trinova ABIng Torsten Ullman AB in Moheda (MD: Rudolf Samuelsson)manufactures subcontracted precision engineering productsmainly for the automatize and engineering industries. 1984was marked by full capacity utilisation in all aspects, overtimeproduction and a lack of skilled workers. Invoiced salesincreased by more than 30 per cent to SEK 75.1 M (57.0).Profitability, however, did not develop as favorable partlydue to Iabour shortage. An extensive capital rationalisationprogramme was introduced during the year.

The development company Trinova AB (MD: Sven IngvarOlsson) in 1984 made the section manufacturing the so-called energy box (a heat storage watertank for privatehouses) into a separate marketing company, Energibox AB inLandskrona, with Trinova and Landskrona Finans AB as themain shareholders. Trinova’s international projects division(turnkey projects, licensing sales etc) was transferred to thenewly-formed company Trelleborg International AB (MD:Sture Svennberg), A number of new projects were started incollaboration with The National Swedish Board for TechnicalDevelopment. Full scale trial operations with fish-cultivationcages for deep sea use developed by Trinova took place in1984 with excellent results. The project is operated in col-laboration with Ewos AB.

As mentioned at the beginning of this annual report (see page7), the Unman Company and Trinova form part of the newlyestablished development company AB Convectus as fromMarch 1985.

A newly-developed "Clupak” mat offers considerable quality and costadvantages in the manufacture of sack paper.

20

Other informationInternational sales, etcSales outside Sweden in 1984 accounted for 51 per cent oftotal sales (1983: 52%). In absolute terms, international salestotalled SEK 945 M (885) and sales in Sweden SEK 916 M(817). Exports from Sweden amounted to SEK 561 M (494).

Market distribution of international sales is reported on page28, note 1 and a diagram is shown on page 3.

Purchases by the Parent Company from subsidiaries in 1984amounted to SEK 23 M (16) which is equal to 4 per cent (3) oftotal purchases. The Parent Company’s total invoiced salesamounted to SEK 1,061 M (947) of which subsidiary com-panies accounted for SEK 212 M (175) or 20 per cent (18).

Information on the accounting principles applied to the Con-solidated Group Accounts is given in the notes to the financialstatements on page 28.

Changes to the Board of DirectorsAt the 1984 Annual General Meeting the following BoardMembers resigned: Professor Ulf af Trolle (elected in 1979)and Mr Gunnar Malmenström (Deputy Director since 1983)together with employee representatives Mr Kurt Olsson(elected in 1978) and Mr Bruno Hansen (Deputy since 1981).

Mr Göran Linders, Helsingborg (Deputy Director since 1982)was elected a new Member of the Board and Mr Bo Sandell,Malmö, new Deputy Director. New employee representativeto the Board are Mr Yngve Söderberg, Chairman of the localbranch of the Swedish Factory Workers’ Union at AB Vär-namo Gummifabrik and Mr Jarl Grönberg, Chairman of thelocal branch of the Swedish Foremen’s and Supervisors’Unions at Trelleborg AB.

Proposed distribution of profitsThe Group’s disposable capital, inclusive of its 1984 profitamounts to SEK 74,124 T.

The Parent Company’s disposable capital includes a balanceof SEK 56,450 T carried forward from the previous yearwhich, added to the 1984 profit of SEK 16,698 T making atotal of SEK 73,148 T.

The Board of Directors and the Managing Director proposethat a dividend of SEK 1.40 per share be paid to shareholdersor SEK 11,733 T in total, and that the remaining sum of SEK61,415 T be carried forward.

The dividend remains the same as in 1983 due to the presenttemporary ban on increased dividends which applies to cer-tain companies. An increased dividend would otherwise havebeen proposed against the background of the long-term aimthat the dividend should be approximately equivalent to onethird of the annual profit after assumed standard tax. Anapplication for exemption, partly for the reason that nodividends had been paid for the period 1977–79, wasrefused by the Swedish Bank Inspection Board.

Here is an example of the extensive range of precision-made rubber compo-nents from the Technical Rubber Business Sector.

21

SharesAfter a four year increase in share prices on the StockholmStock Exchange there was a general fall in 1984. The “Affärs-världen” general share index fell by 12 per cent. The develop-ment of Trelleborg shares was more favourable - a fall of only4 per cent. Trelleborg shares were therefore among the top50% of shares quoted on the Stock Exchange. In the chemi-cal industry, companies such as KemaNobel, AGA andBecker did show more positive development in share prices.Judged over a five year period, however, only KemaNobeland Pharmacia showed more favourable development thanTrelleborg in this industry, with an annual growth rate of 60and 51 per cent respectively for the period 1980-1984. Inthe same period, Trelleborg shares rose by an average of 40per cent per annum.

The lowest list price quoted for Trelleborg shares in 1984 wasSEK 47 (November) and the highest SEK 65 (August). Thesefigures have been adjusted following the bonus issue (1:4)and split (4:1) with the conversion date of 24 September.

At the end of 1984 400 employees took part in the sharesavings scheme in Trelleborg Shares Savings Fund and theTrelleborg General Fund which are tied to the Company. Thevalue of the Funds’ shares fell by 1 and 6 per cent respec-tively.

The increase in the number of Trelleborg shares was veryhigh during the year due to the above-mentioned bonus issueand split. Each old share with a nominal value of SEK 100was exchanged for 5 new shares at a nominal shares value ofSEK 25, one as a result of the bonus issue and four as aresult of the split. The bonus issue increased the share capitalby SEK 41.9 M.

The previously highest increase, SEK 42 M, took place in1982 as the result of a special issue of new shares at a priceof SEK 125 (equivalent to SEK 25 adjusted to the 1984 issueand split). Apart from two special non-cash issues, one in1966 for SEK 2.6 M for the acquisition of Ulvex AB, and onein 1978 for SEK 3.2 M for the acquisition of Tekniska Gummi-fabriken Jakobsberg AB, Trelleborg made three new shareissues in the 60s and 70s.

In 1976 the share capital was increased by SEK 30.6 Mfollowing a new issue of 1:3 at a price of SEK 110, in 1969 bySEK 26.2 M through a new issue of 2:5 at a price of SEK 100and in 1963 by SEK 31.5 M through a new issue of 1:1 at aprice of SEK 140.

Trelleborg share prices 1984- 1985Adjusted for bonus issue and split in 1984

Logarithmic scale

The columns show the maximum and minimum prices eachmonth. Continuous line = The “Affärsvärlden” general indexat the end of each month.

Source: Aktiv Placering.

10080

70

60

50

40

30

2016141210

4

3

2

Trelleborg shares as per December 3 1, 1984Share capitalNominal valueNumber of shares

of which series A (10 votes)of which series B (1 vote)

Number of shareholdersof which directly registeredof which nominee registered

Profit per share:after 50% assumed standard taxafter full taxafter full conversion and 50% taxafter full conversion and full tax

Adjusted shareholders equity per shareDitto after full conversionVisible shareholders equity per shareDitto after full conversionDividend 1984

22

Proposed dividend 1985 1:40

SEK 209.5 MSEK 25

8,380,5601,652,000

6,728,5605,0713,7801,291

SEK 6:407:506:307:30

50:3050:7050:3050:70

1:40

Share prices, Stockholm Stock Exchange* 10 largest Trelleborg shareholders (April, 1985

Minimum Maximum

1981 49:50/ 9:90 79:00/15:80

1982 67:50/13:50 121:00/24:20

1983 116:00/23:20 291:00/58:20

1984 235:00/47:00 325:00/65:00

*Calculated on maximum and minimum buying price eachmonth. The mathematical consequence of the bonus issueand split is that historic values should be divided by a factorof 5.

Data per share 1980– 1984,with adjustments for issues made

1980 1981 1982 1983 1984

Calculated profit SEKDitto after full conversionDividend (not adjusted) SEKDividend SEKShare price at end of year(not adjusted) SEKDitto, adjusted SEKAdjusted shareholdersequityYield %Price/Earnings ratio

2:10 0:90 1:85 2:75 6:40— — — — 6:30

6:00 6:00 6:00 7:00 1:401:20 1:20 1:20 1:40 1:40

62 69 117 260 5012 14 23 52 50

33:70 34:35 41:30 44:95 50:309.7 8.7 5.1 2.7 2.8

6 15 12 19 8

Number of % of share % ofshares capital vote

Dunker Funds andFoundationsInvestment AB Skrinet4th AP FundAB AritmosAlmedahl – Dalsjöfors ABRune Andersson (inclassociated company)SydfondenCarl BennetTrelleborg Share SavingsFundSPP

1,741,5352,356,000

600,000500.000250,000

139,500129,500125,000

96,00090,000

20.7828.11

7.165.972.98

1.661,551.49

1.151.07

66.5110.137.522.151.08

0.600.560.54

0.420.39

Distribution of shareholdings (April 1985)

Number of % of totalHolding shareholders shares

1 – 500 3,476 5.56501 -5 , 0 0 0 250 3.745,001 –50,000 14 3.4950,001 – 13 54.25Swedish nominees 30 32.96

Steel-reinforced steam hose is a speciality product from Trelleborg designeto meet exacting pressure and temperature specifications.

23

Source and Application of Funds Statement(SEK M)

Consolidated Parent Company

1984 1983 1980–84 1984 1983 1980–84Funds provided internallyProfit beforeallocations and taxes +107.1 + 47.0 +228.9 + 67.4 + 71.5 +179.8Depreciation + 43.5 + 75.5 +260.0 + 23.2 + 52.7 +147.0Taxes – 4.3 - 4.4 – 22.9 - 0.0 – 0.6 - 4.3Dividends - 11.7 - 10.1 – 36.8 - 11.7 - 10.1 – 36.8Other — — – 0.6 — - 0.1 - 0.1Changes in blocked accountwith the Riksbank - 0.4 - - 0.3 - 0.1 — - 0.1

Total funds provided internally +134.2 +108.0 +428.3 + 78.8 +113.4 +285.5

Funds utilised internallyOperating capital:Change in stock levels + 2.8 - 12.0 +142.6 – 19.8 + 29.2 + 58.7Change in non-interest-bearingcurrent receivables + 42.8 – 19.2 +158.8 + 51.5 + 20.1 +161.0Change in non-interest-bearingcurrent liabilities – 68.7 - 37.0 –237.6 - 31.7 – 69.1 –147.6

Capital expenditure:In fixed assets (net) + 73.2 – 5.2 +260.4 + 4.3 + 18.4 + 95.1In shares and patents + 4.2 – 2.8 + 4.9 + 28.1 – 6.3 + 68.3

Total funds utilised internally + 54.3 – 76.2 +329.1 + 32.4 – 7.7 +235.5

Total internally generated funds + 79.9 +184.2 + 99.2 + 46.4 +121.1 + 50.0

Funds provided/utilised externallyIssue of new shares — — + 52.5 — — + 52.5Change in long-term liabilities + 0.6 – 74.6 – 42.4 - 10.0 + 5.5 – 6.9Change in interest-bearingcurrent liabilities - 47.0 – 38.8 + 30.4 - 50.0 – 35.8 + 18.1Change in long-term receivables - 8.6 + 6.5 - 3.9 + 33.9 – 15.7 + 8.0Change in minority participationsand Group reserves – 5.6 – 0.6 - 1.1 — — —

Total funds provided/utilised externally – 6 0 . 6 –107.5 + 35.5 – 26.1 – 46.0 + 71.7

Change in liquid fundsand short-term investment + 19.3 + 76.7 +134.7 + 20.3 + 75.1 +121.7

24

Profit and loss Account(SEK M)

Consolidated Parent Company

1984 1983 1984 1983Operating income and expensesInvoiced sales (Note 1) 1,861.2 1,701.9 1,061.0 946.6Other operating income + 9.6 — + 15.3 -

Operating income 1,870.8 1,701.9 1,076.3 946.6Cost of productionsales and administration – 1,691.0 –1,556.2 - 979.1 – 852.7

Operating profit before depreciation + 179.8 + 145.7 + 97.2 + 93.9Planned depreciation (Note 2) — 43.5 - 47.5 - 23.2 – 24.7

Operating profit after depreciation + 136.3 + 98.2 + 74.0 + 69.2

Financial income and expensesDividends on shares in subsidiaries — — + 0.1 + 10.1Dividends on other shares + 0.0 + 2.7 — + 2.0Interest income + 54.6 + 18.7 + 48.8 + 22.4Interest expenses (Note 3) — 79.9 – 72.1 – 64.2 – 45.4Currency gain/loss (Note 4) — 3.6 – 1.6 – 3.8 – 2.2

Profit after financial income and expenses + 107.4 + 45.9 + 54.9 + 56.1

Extraordinary items (Note 5)Extraordinary income + 17.0 + 136.5 + 24.6 + 119.4Extraordinary expenses — 17.3 - 135.4 - 4.8 – 81.0Group contributions — — — 7.3 – 23.0

Profit before allocations and taxes + 107.1 + 47.0 + 67.4 + 71.5

AllocationsChange in stock reserveChange in investment fundTransfer to special investment fundTransfer from special investment fundChange in replacement reserveDifference between plannedand book depreciationOther allocations

— 41.0 + 3.4 – 30.7 – 4.2+ 0.1 —— 4.6 – 14.9 – 4.2 – 14.9+ 14.8 — + 14.8 —

— + 11.0 — —

— 50.0 – 2.7 – 30.6 – 2.7+ 0.2 – 0.1 — —

Profit before taxes + 26.6 + 43.7 + 16.7 + 49.7

Taxes (Note 6) — 4.3 – 4.4 — — 0.6

Minority participations − −

Net profit for the year

— 1.8 + 0.1

+ 20.5 + 39.4 + 16.7 + 49.1

25

Balance sheet as at December 31(SEK M)

Consolidated

1984 1983

Parent Company

1984 1983AssetsCurrent assetsCash and bank balanceShort-term investment (Note 7)Bills receivable (Note 8)Customer receivables (Note 8)Receivable from subsidiariesPrepaid costs and accrued incomeAdvances to suppliersOther receivablesStock (Note 9)

51.0193.4

12.2339.8

38.3186.8

1.1297.8

29.9193.4

0.8161.3114.7

16.70.76.3

240.3

16.2186.8

0.7135.677.719.1

— —

21.51.8

27.5454.1

23.80.8

36.4451.3

—15.9

260.2

Total current assets 1,101.3 1,036.3 764.1 712.2

Blocked account with the RiksbankSpecial investment fund 0.5 — 0.1 —

Fixed assets (Note 10)Shares and participations innon-Group companies (Note 11)Shares in subsidiaries (Note 11)Receivable from subsidiariesLiquidity withdrawal accountOther long-term receivablesGoodwillDevelopment expensebrought forwardMachinery and equipmentBuildingsLand and land improvementsConstruction in progress

3.0 0.9−−

2.1113.5

22.16.30.0

0.687,060.5

——6.85.24.5

− −3.43.2

1.7282.8

36.24.7—

1.7— −

3.1297.4

40.64.99.7

3.1138.2

14.11.9

1.7165.0

7.91.6

— —

Total fixed assets 375.2 332.9 301.3 326.0

Total assets 1,477.0 1,369.2 1,065.5 1,038.2

26

Consolidated

1984 1983Liabilities and shareholders’ equityCurrent liabilities (Note12)Bills payable 38.8Accounts payable to subsidiaries —

Accounts payable to suppliers 175.0Accrued costs and prepaid income 114.4Accrued taxes 4.8Advances from customers 16.8Other current liabilities (Note 13) 157.0

Parent Company

1984 1983

5.9 3.4 5.9— 58.8 41.4

145.3 98.3 83.6109.9 72.0 85.1

6.8 0.8 4.011.4 16.5 11.2

205.8 93.2 130.2

Total current liabilities 506.8 485.1 343.0 361.4

Long-term liabilitiesTo subsidiaries — — 8.3 43.8Overdraft facilities 89.3 86.3 — 2.1Bond and debenture loans (Note 14) 35.6 21.7 35.6 21.7Provision for pensions (Note 15) 199.7 192.8 152.9 143.2Other long-term liabilities 137.2 160.4 80.1 76.2

Total long-term liabilities 461.8 461.2 276.9 287.0

Untaxed reserves (Note 16)Stock reserve 57.5 16.5 41.7 11.0Accumulated extra depreciation 110.9 60.9 74.5 43.8Investment fund - 0.1 — —

Other untaxed reserves — 0.2 — —

Special investment reserve 4.7 14.9 4.3 14.9

Total untaxed reserves 173.1 92.6 120.5 69.7

Minority participations 1.5 5.3 — —

209.5 167.6

Shareholders’ equityNon-disposable capital (Note 17)Share capital 209.5 167.61,652,000 A-shares, par SEK 25, 10 votes each6,728,560 B-shares, par SEK 25, 1 vote eachStatutory reserves 50.2 49.9 42.4 42.4

Total non-disposable capital 259.7 217.5 251.9 210.0

Disposable capital (Note 18)Profit brought forward 53.6 68.1 56.5 61.0Net profit for the year 20.5 39.4 16.7 49.1

Total disposable capital 74.1 107.5 73,2 110.1

Total shareholders’ equity 333.8 325.0 325.1 320.1

Total liabilities and shareholders’ equity 1,477.0 1,369.2 1,065.5 1,038.2

Contingent inabilities (Note 19) 115.4 44.7 236.1 195.9Assets pledged (Note 19) 466.0 354.8 322.4 250.6

27

Notes to the financialstatementsPrinciples of consolidationThe accounts for the Trelleborg Group include the ParentCompany as well as all companies in which Trelleborg ABdirectly or indirectly owns more than 50% of the shares.

The accounts have been prepared according to the purchaseaccounting method. This involves elimination of book values ofshares in subsidiary companies and off-setting them againstacquisition values of subsidiary companies, i.e. what was left inthe respective companies at the time of acquisition in theform of taxed shareholders’ equity inclusive of untaxedreserves less computed tax. Deferred tax liability isaccounted for under long-term liabilities. Excess capital aris-ing from elimination is shown as Group goodwill and is depre-ciated according to plan.

Balance sheets of foreign subsidiaries have been translatedinto Swedish kronor in accordance with the principle ofmonetary items at exchange rates prevailing on the balancesheet date and non-monetary items at rates prevailing on thedates of transaction. Stock which is rapidly converted has,for practical reasons, been translated at rates prevailing onthe balance sheet date. Profit and loss accounts have beentranslated at annual average exchange rates with the excep-tion of depreciation, costs of fixed assets sold and dissolutionof untaxed reserves. These items are translated at ratesprevailing on dates of transaction. Translation differenceswhich occur through the application of these translation prin-ciples are included in the year’s Financial Income and Ex-penses under Currency gain/loss. In previous yearsequivalent translation differences have been shown underOther Allocations. In 1983 they amounted to SEK –0.3 M.

Swedish Group companies’ receivables and liabilities inforeign currencies have been translated at rates prevailing onthe balance sheet date. As the exchange rate has beensecured through a forward contract, the rate of the forwardcontract has been used. Exchange rate differences referringto daily operations have been credited/debited to operatingprofit whereas exchange rate differences of a financial naturehave been accounted for under financial income andexpenses.

DefinitionsReturn on equity: Computed on the basis of profit after finan-cial income and expenses less taxes in full, i.e. taxes paidplus deferred tax liabilities equivalent to 50% of total alloca-tions, divided by average equity plus minority capital and50% of untaxed reserves.

Return on total assets: Computed as operating profit afterplanned depreciation, plus interest and dividend income,divided by average balance sheet total.

Return on capital employed: Computed as operating profitafter planned depreciation plus interest and dividend income,divided by average balance sheet total less non interest-bearing operating liabilities.

Interest cover: Profit after financial income and expenses plusinterest costs, divided by interest costs.

Equity ratio, solvency: Shareholders’ equity plus minority hol-dings plus 50% of untaxed reserves expressed as a percen-tage of the balance sheet total less cash, bank balances andshort-term investments.

Risk capital: Shareholders’ equity, plus minority holdings plusuntaxed reserves expressed as a percentage of the balancesheet total less cash, bank balance and short-term invest-ments.

Investment in plant: The difference between gross and netvalues consists of assets in companies acquired and assetsdisposed of during the year.

Profit per share: Profit after financial income and expensesless estimated taxes (50% assumed standard tax and full taxrespectively), divided by the number of shares at the end ofthe year. Final tax has been calculated as actual tax plus adeferred tax equivalent to 50% of al! allocations.

Visible equity: Shareholders’ equity plus minority capital anduntaxed reserves less assumed standard tax.

Adjusted equity: Visible equity plus hidden reserves, prop-erties and unquoted shares.

Note: Trelleborg Atlas A/S, Norway, which is included in theTrelleborg Group as from 31 December, 1984 has notbeen included in the data on which the return oncapital employed was calculated. Data for computingaverage balance sheet items is made up of openingand closing balances. Liquid investments have,however, been adjusted to take into account changesduring the year.

Note 1- Invoiced sales

Invoiced sales for the Group were distributed as follows:

Invoiced sales by market (SEK M) 1984 1983

Sweden 916.4 817.0Other Nordic countries 181.7 158.5Other European countries 567.8 549.7USA and Canada 95.1 68.2Other markets 100.2 108.5

Total 1,861.2 1,701.9

Exports from Sweden amounted to SEK 560.7 M (493.9).

The Parent Company’s total invoiced sales amounted to SEK1,061.0 M (946.6), of which SEK 212.4 M (174.5) or 20% (18)refers to transactions with other companies in the Group.

28

Note 2- Depreciation

Planned depreciation based on acquisition costs is debited tooperating profit. The depreciation rates applied are thoseused by the international rubber industry, i.e.

Extraordinary expensesCost of early retirements andtermination payments - 0.1 - 3.1Restructing/discontinuationof operations - 13.4 - 0.6Disposal of/write-down on fixedassets - 1.7 - 1.1Other - 2.1 -− Machinery and equipment 6–18%

Moulds 18–33%Buildings 2– 6%

Total (weighted average) 6.5%

Goodwill values are written off over 10 years.

Depreciation (SEK M) Group Parent Company

1984 1983 1984 1983

Machinery and equipment 37.6 38.3 19.0 18.4Moulds and tools 3.9 3.5 3.5 3.4Buildings 0.8 4.1 0.2 2.0Land improvements — 0.1 − 0.1Development costsbrought forward 0.3 0.6 0.3 0.6Write-up on buildings 0.2 0.2 0.2 0.2Goodwill 0.7 0.7 - —Total planneddepreciation 43.5 47.5 23.2 24.7

Extraordinary depreciation — 28.0 - 28.0

Difference betweenplanned depreciationand book depreciation 50.0 2.7 30.6 2.7

Total extraordinary expenses –17.3 - 4.8

Note 6 – Taxes

Of the year’s tax costs, SEK 1.8 M represents a tax on profitsharing.

Note 7 - Short-term investment

Interest arbitrage transactions of SEK 45.0 M in total havebeen accounted for net in the Balance Sheet. In short-terminvestments are included 74,800 shares in Components Kil-sta AB at a nominal value of SEK 1.9 M and a book value ofSEK 2.2 M.

Note 8 – Customer receivables and billsreceivable

The table below shows Group customer receivables and billsreceivable as a percentage of invoiced sales, 1980– 1984(excl. Trelleborg Atlas A/S, acquired as from 31 December,1984):

Book depreciation 93.5 78.2 53.8 55.4 1980 1981 1982 1983 1984

In Book Depreciation for 1984 is included SEK 14.8 M whichrefers to depreciation against a special investment reserve.

Note 3 - Interest expenses

The cost of interest on PRI-pension liabilities in 1984amounted to SEK 20.5 M (18.5), of which SEK 17.0 M (14.9)was charged against the parent company.

Note 4 – Currency gain/loss

Group, SEK M 1984 1983

Referring to loans –4.3 -1.6Referring to translation of balancesheets in foreign subsidiaries +0.7 —

Total –3.6 –1.6

Note 5- Extraordinary items

SEK M Group ParentCompany

Extraordinary incomeCapital gains +16.6 +24.6Investment contribution + 0.4 -

18.8% 18.1% 19.3% 17.6% 17.9%

Receivables are reported in the amounts which are expectedto be realised.

Note 9 - Stock

Stock have been valued according to the principles used inprevious years, i.e. at the lower of aqcuisition or replacementcosts (FIFO). Adequate write-offs for obsolescence havebeen booked.

The following table summarises the value of the Group’sstock (excl. Trelleborg Atlas A/S) as a percentage of invoicedsales:

1980 1981 1982 1983 1984

Raw materials 4.6 4.4 3.9 4.0 3.4Work in progress 7.2 6.5 6.9 6.6 5.2Finished products 16.1 18.1 17.8 15.9 14.2

Total 27.9 29.0 28.6 26.5 22.8

Fiscally unutilised stock depreciation in Group’s Swedishcompanies amounted to SEK 102.2 M (182.9).

Total extraordinary income +17.0 +24.6

29

Note 10 - Fixed assets

The year-end value of the Group’s fixed assets is shownbelow (SEK M):

Machinery Build- Land & Developm. Total& equip- ings improve- expense

ment ments brought

*) forward

Acquisition costs 666.9 57.4 5.7 4.0 734.0Accumulated planneddepreciation –369.9 –17.6 –1.3 –0.9 –379.7Unutilised accumulatedwrite-ups — + 0.8 +0.5 — + 1.3

Year-end gross value 307.0 40.6 4.9 3.1 355.6Accumulated extra depr. –110.4 – 0.5 — — –110.9

Book value 196.6 40.1 4.9 3.1 244.7

The total taxable value of the Group’s properties in Swedenamounted to SEK 18.7 M.

The change in value of the Group’s assets is shown below(SEK M):

Machinery Build- Land & Developm. Total& equip ings improve- expense

ment ments brought*) forward

Gross value as atJanuary 1, 1984 282.8 36.2 4.7 1.7 325.4Gross investment, 1984 +120.3 +9.0 +0.8 +1.7 +131.8Sale/disposal of assets, 1984 – 54.6 –3.6 –0.6 — – 58.8Planned depreciation – 41.5 –1.0 — –0.3 – 42.8

Gross value as atDecember 31, 1984 307.0 40.6 4.9 3.1 355.6

The Parent Company’s fixed assets are distributed as follows(SEK M):

Machinery Build- Land & Developm. Total& equip ings improve. expense

ment ments brought*) forward

Acquisition cost 320.9 16.8 2.3 4.0 344.0Accumulated planneddepreciation –182.7 – 3.4 –0.8 –0.9 –187.8Unutilised accumulatedwrite-ups — + 0.7 +0.4 — + 1.1

Gross value as atDecember 31, 1984 138.2 14.1 1 . 9 3.1 157.3Accumulated extra depr. – 74.5 — — — - 74.5

Book value 63.7 14.1 1.9 3.1 82,8

Taxable value 8.0 1.8 9.8Fire Insurance value 1,493.0 487.0 1,980.0– of which rented buildings 487.0 487.0

The change in value of the Parent Company’s assets isreported below (SEK M):

Machinery Build- Land & Developm. Total& equip. ings improve- expense

ment ments brought*) forward

Gross value as atJanuary 1, 1984 165.0 7.9 1.6 1.7 176.2Gross investment, 1984 +41.1 +6.6 +0.3 +1.7 +49.7Sale/disposal ofassets, 1984 –45.4 — — — –45.4Planned depreciation –22.5 –0.4 — –0.3 –23.2

Gross value as atDecember 31, 1984 138.2 14.1 1.9 3.1 157.3

*)Construction in progress included

A number of Group companies rent buildings from SPP. Atotal rental of SEK 40.6 M was paid to SPP in 1984 of whichSEK 34.5 M was charged to the Parent Company, Theaverage remaining rental period is slightly more than 13years.

Note 11 – Shares and participations

The change in book value of the shares owned by the ParentCompany in subsidiaries is shown below (SEK M):

Value as at January 1, 1984 87.0Plus:

Shares in acquired subsidiaries +14.5Minority shares in acquired subsidiaries + 8.7New issues in subsidiaries + 9.7

Less:Sale of shares in subsidiaries – 6.4

Value as at December 31, 1984 113.5

In order to better reflect the true value of subsidiary com-panies a redistribution of book values has been made in theform of total appreciation of SEK 17.2 M and depreciation bythe same amount.

30

Shares owned indirectlyUlvex ABTekniska GummifabrikenJakobsberg ABTrelleborg Pty Ltd., Australia

No. of Par value Book valueshares SEK T SEK T 150,000 7,500 −

Shares in subsidiariesSwedenManufacturing companies

Eskilstuna Gummi ABIng Torsten Ullman ABSigma ABSwedish Tyre-Tube ABTrelleborg i Örebro ABTrellfax AB (97%)Trinova ABVelox ABAB Värnamo Gummifabrik

2,000100,000

200AUD 100

——

1,25020,60815,00018,2004,000

19,4025,0001,000

160,000

12510,304

1,5001,820

4001,940

5001,000

16,000

50115,5113,9721,365

8801,120

500

Other sharesTP-Data (50%)AB LandskronafinansTrelleborg S.A. de C.V.,Mexico (499’.)Trelleborg BTR Pty Ltd.,Australia (50%)Trellex Orebed AB (50%)Interspiro GmbH, W. Germany(40%)Trelleborg JM lnc,Philippines (30%)Other shares

50018,010

501,801

501,226

288147 MXP 147

− 10,0002,000

AUD 10200

5920027,408

Other companiesAB AkvarexRubber Trading ABAB TegeaTrelleborg International ABAB TrellflexAB TeguflexTrelleborgdäck ABTrelleborg i Gävle ABAB TrelleborgfinansTrelleborg Fond ABTrelleborg Marin ABAB ConvectusAB IrredentaAB NovibraAB Saldo

DEM 1,138 394—500

40,00012,000

500500500

1,000500

1,0001,250

500500500500500

50 504,000 3,5001,200 1,200

50 5050 5050 50

100 10050 50

100 100125 12550 4050 5050 5050 5050 50

17,998 PHP 179,980 1046 2

Total other shares 2,123

In addition, subsidiaries own shares in non-Group companiesto a book value of SEK 0.9 M.

Note 12 - Group liabilities

SEK M Total Of whichinterest-bearing

1984 1983 1984 1983

Current liabilities 506.8 485.1 101.5 118.2Long-term liabilities,including overdraftfacilities 461.8 461.2 438.1 435.5

Other countriesManufacturing companies

Trelleborg B.V., Holland 14,500 NLG 14,500 23,900Trelleborg Gummiwerke GmbH,W. Germany — DEM 7,000 4,000Trelleborg Atlas A/S (92%) 25,116 NOK 6,279 7,645

968.6 946.3 539.6 553.7

Less: Cash and bankbalance and short-terminvestments –244.4 –225.1 –244.4 –225.1

Sales companiesTrelleborg Australia Pty LtdTrelleborg S.A.-N.V., BelgiumTrelleborg Ltd., CanadaTrelleborg Gummi A/S, DenmarkOy Trelleborg AB, FinlandTrelleborg S.A., FranceTrelleborg Rubber (Nederland) B.V.Trelleborg S.r.l., ItalyTrelleborg Gummi A/S, NorwayTrelleborg Gummi AG, SwitzerlandTrelleborg S.A., SpainTrelleborg Ltd., Great BritainTrelleborg Inc., USATrelleborg Gummi GmbH, Austria

1,0003,0005,000

702,000

90,0001,000

68,00025,000

5032,000

100,000100,000

AUDBECCADDDKFIMFRFNLGITLNOKCHFESPGBPUSDATS

7200

13,000

501,500

3009,0001,000

68,0002,500

5032,000

1001,0003,000

− Total liabilities includingPRI-pension liabilities, net 724.2 721.2 295.2 328.62,000

4053,0001,000 Note 13 - Other current liabilities

—50066

This item includes amortisation of long-term liabilities ofSEK 23.5 M during 1984, as well as withholding taxes foremployees and other liabilities. Interest-bearing liabilities ofSEK 71.2M(118.2) are also reported under this item.

—10,0004,000

— −Total shares in subsidiaries 113,495

31

Note 14 - Bonds and debenture loans Note 17 – Non-disposable capital

Original Remaining Interest Term Amort.amount year end rate, % 1985SEK M SEK M SEK M

Bond loan, 1967 25 4.3 7 1967–87 —Debenture loan, 1970 35 3.8 8 1970–85 3.8Bond loan, 1973 20 12.4 7 1/4 1973–93 1.0Convertibledebentures 1984*) 20 20.0 10 1984–94 —

−

*) Conversion into shares maybe exercised from 1 October,1987 up to and including 31 December, 1991 at a conver-sion rate which is currently SEK 60.

Note 15 – Provision for pensions

SEK M Group Parent Company1984 1983 1984 1983

PRI pensions 189.9 180.9 147.4 135.8Other Derisions 9.8 11.9 5.5 7.4

Total 199.7 192.8 152.9 143.2

Note 16 – Untaxed reserves

Changes in the value of the Group’s untaxed reserves areshown below:

SEK M Stock Accum. Spec. Otherreserve extra invest. reserves

depr. res.

SEK M Group ParentCompany

Value as at January 1, 1984 217.5 210.0Bonus issue +41.9 +41.9Allocated to statutory reserves + 0.3

Value as at December 31, 1984 259.7 251.9

Note 18- Disposable capital

SEK M Group ParentCompany

Value as at January 1, 1984 107.5 110.1Less:

Dividends paid during 1984 –11.7 –11.7Bonus issue – 41 .9 –41.9Allocated to statutory reserves – 0.3 −

Plus:Net profit, 1984 +20.5 +16.7

Value as at December 31, 1984 74.1 73.2

An insignificant portion of the Group’s disposable capital issubject to dividend tax, which is payable where dividends arereceived by the Parent Company.

Note 19 – Contingent liabilities and assetspledged

SEK M Group Parent Company1984 1983 1984 1983

Value as atJanuary 1,1984 16.5 60.9 14.9 0.3Dissolution orallocation as perincome statement +41 .0 +50.0 –10.2 –0.3

Contingent liabilitiesDiscounted bills 2.9 21.4 — —Pension commitments 12.6 — —Guarantees and othercontingent liabilities 112.5 10.7 236.1 195.9

Value as atDecember 31, 1984 57.5 110.9 4.7 0.0

Total 115.4 44.7 236.1 195.9of which for subsidiaries — − 219.2 179.1

Accumulated extra depreciation corresponds to the write-down booked over the years in addition to planned deprecia-tion. In connection with sale of assets, corresponding extrawrite-downs have been dissolved.

Assets pledgedProperty mortgages 16.6 33.5 1.7 1.6Leasehold site mortgages 2.6 2.6 0.7 0.7Corporate mortgages 366.8 273.2 245.0 205.0Bank accounts 12.6 11.5 10.0 11.1Short-term investments 65.0 32.2 65.0 32.2Title retained in mach-inery and stock 2.4 1.8 — —

Total 466.0 354.8 322.4 250.6

32

Trelleborg, March 1985Note 20 – Average number of employees bymunicipality and by country

Åke StåhlbrandtChairman of the Board

Group ParentCompany Ernst Herslow Hans Cavalli-Björkman

Bertil Bertilsson Jan OdhnoffBörje Karlsson Ingvar WenehedGöran Sundblad Göran LindersArne Nilsson Karl-Axel Lindskog

In SwedenAlvestaGotlandGothenburgSjöboStockholmTrelleborgVärnamoYstadÖrebroMunicipalities withless than 20 employees

265151

41105160

2,159410103125

——41

10514

2,159

103

Rune AnderssonManaging Director

−The Auditors’ Report for this Annual Report and the consoli-dated financial statements was submitted on April 11, 1985.—

92 72 Sten Berglund Reidar PetersTotal, in Sweden 3,611 2,494

Auditors’ ReportOutside Sweden

DenmarkFranceThe NetherlandsNorwayGreat BritainUSAWest GermanyCountries with lessthan 20 employees

2586

267299342

269

—

—

—

−− The Annual Report and the Accounts for 1984 have been

prepared in accordance with the Swedish Companies Act.−−

−We recommend that the Annual General Meeting— approve the Income Statements and Balance Sheets for

the Parent Company and the Group.— allocate earnings as proposed in the Board of Director’s

Report.– discharge the Board and the Managing Director from

liability for 1984.

44

Total, outside Sweden 855 —

Total 4,466 2,494

The average number of employees in Sweden has beencalculated according to recommendations made by theNational Accountancy Board.

Trelleborg, April 11, 1985

Sten Berglund Reidar PetersAuthorised Publ. Acc. Authorised Publ. Acc.Note 21- Salaries and other remuneration,

excluding social costs

SEK M 1984 1983

Parent company 237.2 224.9Swedish subsidiaries 104.8 103.4Foreign subsidiaries:

Denmark 3.9 3.5France 10.5 12.0The Netherlands 21.6 23.0Italy 1.2 0.5Norway 5.0 4.6Great Britain 8.0 8.0USA 8.4 7.9West Germany 29.0 30.7Other countries 6.6 6.8

Total 436.2 425.3

33

Group highlights 1975–1984(SEK M unless otherwise stated)

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984From income statementsInvoiced sales

of which abroadOperating profit before depr

as % of invoiced salesPlanned depreciationFinancial income and expensesExtraordinary itemsProfit before allocationsand taxesProfit per share after 50%assumed standard taxFrom balance sheetsCurrent assetsFixed assetsCurrent liabilitiesLong-term liabilitiesUntaxed reservesShareholders’ equityBalance-sheet total

From statements of changesFunds provided internallyFunds utilised internallyFunds generated internally

951 952 985 970 1,039 1,337 1,443 1,620 1,702 1,861% 44 44 46 54 51 49 50 52 52 51

100.0 38.6 62.6 21.7 83.5 114.4 117.0 152.9 145.7 179.820.5 4.1 6.3 2.2 8.0 8.6 8.1 9.4 8.6 9.735.6 39.9 43.8 42.5 39.9 43.9 46.9 50.2 47.5 43.527.7 26.8 32.1 35.5 25.9 35.4 54.8 71.3 52.3 28.9

– 9.3 –15.3 – 9.8 +66.1 – 3.5 – 4.0 + 8.8 – 11.8 + 1.1 – 0.3

+26.8 –43.4 –23.1 + 9.8 + 14.2 + 31.1 + 24.1 + 19.6 + 47.0 +107.1

SEK 2:20 Neg Neg Neg 1:05 2:10 0:90 1:85 2:75 6:40

530 547 657 626 665 777 863 991 1,036 1,101417 409 433 366 367 386 413 423 333 375213 226 271 243 239 304 375 487 485 507371 395 538 469 505 540 570 536 461 462178 131 84 55 56 74 87 89 93 173185 204 197 225 232 239 238 296 325 334947 956 1,090 992 1,032 1,163 1,276 1,414 1,369 1,477

+42.0 –16.4 – 5.8 + 48.8 +49.2 + 69.5 +59.6 + 57.0 +108.0 +134.2+68.9 +12.1 + 154.8 –101.8 +94.2 +124.5 +94.7 +131.7 – 76.2 + 54.3–26.9 +28.5 – 160.6 +150.6 –45.0 – 55.0 –35.1 – 74.7 +184.2 + 79.9

Funds provided/utilised externally +28.0 +47.9 + 164.5 – 85.3 +29.9 + 49.1 +59.8 + 94.6 –107.5 – 60.6Change in liquid funds + 1.1 +19.4 + 3.9 + 65.3 –15.1 – 5.9 +24.7 + 19.9 + 76.7 + 19.3

Key indicatorsReturn on equity % 8.7 Neg Neg Neg 4.2 7.9 1.4 8.5 11.0 15.7Return on assets % 7.4 0.4 2.4 Neg 5.5 7.9 7.0 9.0 8.6 12.4Liquidity % 2.5 2.4 2.4 2.6 2.8 2.6 2.3 2.0 2.1 2.2Equity ratio % 29.8 29.9 23.1 29.1 28.3 26.7 25.1 27.4 32.9 34.2Interest coverage % 1.8 Neg 0.2 Neg 1.3 1.4 1.4 1.3 1.7 2.3Operating capital as % of turnover 43.2 41.0 45.4 41.1 41.5 38.1 38.9 38.9 35.2 31.4

Other informationInvestment in plant, netNumber of employees1 )

Sales per employee SEK TFixed capital per employee SEK TSalaries

as % of turnoverSocial costs

as % of salariesDividend (Parent Co.) per share SEK

46.56,881

13859

2802978

27.88:–

40.86,491

14661

29030

10335.5

6:–

64.86,072

16268

30131

12842.5

—

–20.24,968

19570

29330

12141.3

—

43.04,787

21770

29428

12442.2

—

59.45,301

25269

35827

15342.7

6:–

84.05,424

26674

39327

17544.5

6:–

51.35,169

31378

41225

16740.5

6:-

–5.24,680

36469

42525

17741.6

7:–

59.74,466

41780

43623

18843.1

1:40²)

1) Previous to 1978, average no. employed;1978 and onward, average man-years.

2) Proposed.

34

Board of directorsÅke Ståhlbrandt, Chairman.Born 1914. Elected 1950.Formerly Managing Director, Trelleborg AB.Chairman: Henry and Gerda Dunkers Foundation and Dona-tion Fund No 2, Henry Dunkers Förvaltnings AB, FörvaltningsAB HD and Förvaltnings AB HGI.Shareholding: 8,070 shares and convertible bonds at a nomi-nal value of SEK 120,000.

Hans Cavalli-BjörkmanBorn 1928. Elected 1970.Managing Director of Skandinaviska Enskilda BankenChairman: Landskrona Finans AB, Skoogs AB, ÅkermansVerkstads AB, Skånes Handelskammare and others.Board Member: Kanthal AB, Incentive AB, Saab-Scania AB,AB Scansped and others.Shareholding: 10

Jan OdhnoffBorn 1931. Elected 1977.Director of the National Swedish Occupational ResearchInstitute, Arbetslivscentrum.Shareholding: Convertible bonds at a nominal value of SEK24,000.

Ernst Herslow, Deputy Chairman.Born 1919. Elected 1965.Chairman: AB Cardo, AB Custos, Gorthon Invest AB, Höga-näs AB and lndustri AB Euroc.Board Member: Skandinaviska Enskilda Banken and Invest-ment AB Öresund.Shareholding: Nil

Berti l BertilssonBorn 1928. Elected 1976.Managing Director of Gorthon Invest AB, Förvaltnings ABHD, Förvaltnings AB HGI and Henry Dunkers FörvaltningsAB.Chairman: Gorthons Rederi AB.Board Member: Henry and Gerda Dunkers Foundation andDonation Fund No 2 and AB Hevea.Shareholding: 100 shares and convertible bonds at a nominalvalue of SEK 120,000.

Börje KarlssonBorn 1933. Elected 1982.Managing Director of Rottne lndustri AB.Board Member: Scandust AB and Skandinaviska EnskildaBanken, Växjö.Shareholding: 2,500

Seated (from left) Karl-Axel Lindskog, Rune Andersson, Åke Ståhlbrandt, Jan Odhnoff, Göran Linders, Börje Karlsson (Bertil Bertilsson and Bo SandellErnst Herslow, standing (from left) Arne Nilsson, Yngve Söderberg, Jarl were not present when this picture was taken).Grönberg, Hans Cavalli-Björkman, lngvar Wenehed, Göran Sundblad,

Rune AnderssonBorn 1944, Elected 1983.Managing Director of Trelleborg AB.Chairman: AB Convectus and ldeon-Venture AB.Board Member: Industri AB Kuben and AB Verdexa.Shareholding: 54,000 and 85,500 in associated company;convertible bonds at a nominal value of SEK 3,498,000.

lngvar WenehedBorn 1930. Elected 1983. Managing Director of AB Aritmos.Chairman: Industri AB Kuben.Board Member: AB Bahco, Eldon AB, AB Sture Ljungdahl,Sandblom & Stohne AB and others.Shareholding: Nil

Göran SundbladBorn 1921. Elected 1983. MD of Almedahl-Dalsjöfors AB.Board Member: AB Aritmos, Nordiska Kompaniet, AB Nord-viror, Rederi AB Transatlantic and Svenska Handelsbanken.Shareholding: Convertible bonds at a nominal value of SEK1,440,000.

Göran LindersBorn 1933. Elected 1982. Partner of the Mannheimer &Zetterlöf firm of solicitors, Malmö,Board Member: Brio AB, Gorthon Invest AB, Wilh SonessonAB, Th Strålfors AB and others. Shareholding: Convertiblebonds at a normal value of SEK 120,000.

Arne NilssonBorn 1933. Elected 1981. Employee Representative.Elected by the Trelleborg Group members of SIF (SwedishIndustrial Salaried Employees’ Association). Chairman of theSIF branch at Trelleborg AB. Shareholding: 25 and con-vertible bonds at a nominal value of SEK 120,000.

Karl-Axel LindskogBorn 1928. Elected 1979. Employee Representative.Elected by the Trelleborg Group members of the SwedishFactory Workers’ Union. Chairman of the local Union branchat Trelleborg AB. Deputy Chairman of Trelleborg MunicipalCouncil. Shareholding: 500 and convertible bonds at a nomi-nal value of SEK 30,000.

Deputy DirectorsBo SandellBorn 1947. Elected 1984. MD of Investment AB Skrinet.Chairman: AB Hevea, AB Kabinettet, AB Schatullet and För-valtnings AB Sekretären.Board Member: Almedahl-Dahlsjöfors AB, Gambro AB, ABKylmateriel, Landskrona Finans AB, Nolato AB, NPL-Grup-pen AB, Securitasgruppen AB and others.Shareholding: Nil

Jarl GrönbergBorn 1931. Elected 1984. Employee Representative.Elected by the Trelleborg Group representatives of SALF(Swedish Foremen’s and Supervisors’ Union). Chairman ofthe SALF branch at Trelleborg AB. Shareholding: Nil

Yngve SöderbergBorn 1944, Elected 1984, Employee Representative.Elected by the Trelleborg Group members of the SwedishFactory Workers’ Union. Chairman of the local Union branchat AB Värnamo Gummifabrik. Shareholding: Nil

AuditorsSten BerglundBorn 1915. Authorised Public Accountant, BohlinsRevisionsbyrå AB, Stockholm. Appointed Deputy Auditor1958. Auditor 1965.

Reidar PetersBorn 1939. Authorised Public Accountant, Peters &CoRevisionsbyrå AB, Malmö. Appointed 1977.

Deputy AuditorsThomas ThielBorn 1947. Authorised Public Accountant, BohlinsRevisionsbyrå AB, Stockholm. Appointed 1983.

Hans PihlBorn 1951. Authorised Public Accountant, Peters &CoRevisionsbyrå AB, Malmö. Appointed 1984.

Group ManagementRune AnderssonBorn 1944. Employed 1983. Group Managing Director.Manager, Business Sector: Special Products.Shareholding: 54,000 and 85,500 in associated company;convertible bonds at a nominal value of 3,498,000.

Bo ForsénBorn 1948. Employed 1974. Deputy Managing Director.Manager, Business Sector: Technical Rubber.Shareholding: 20,000; convedible bonds 3,000,000.

Kjell HallbergBorn 1931. Employed 1956. Mgr, Business Sector: Tyres.Shareholding: 500; convertible bonds SEK 840,000.

Thomas OldérBorn 1947. Employed 1969. Mgr, Business Sector: Trellex.Shareholding: Nil; convertible bonds SEK 750,000.

Claes SvenssonBorn 1949. Employed 1970. Manager, Business Sectors:Industrial Supplies/Products and Trading.Shareholding: Nil; convertible bonds SEK 1,500,000.

Carl AspegrenBorn 1931. Employed 1958. lnformation/PR, Law.Shareholding: 20; convertible bonds SEK 120,000.

Lars-Göran BarckBorn 1942. Employed 1984. Personnel.Shareholding: 3,500; convertible bonds SEK 1,200,000.

Bo JacobssonBorn 1951. Employed 1975. Administration.Shareholding: Nil; convertible bonds SEK 150,000.

Kjell NilssonBorn 1948. Employed 1985. Commercial Development.Shareholding: 5,000.

Ulf SvenssonBorn 1941. Employed 1965. Purchasing.Shareholding: 200 (children); convertible bonds SEK240,000.

Ivar ÅkermanBorn 1941, Employed 1984. Finance.Shareholding: 1,000; convertible bonds SEK 60,000.

3 6

Rubber – a superior materialWhen Columbus discovered rubber in the 15th century itcaused some amazement but hardly any enthusiasm.Nobody at that time expected rubber to play the lead inperhaps the biggest revolution in the history of mankind.When the motor-car started to make its breakthrough morethan 400 years later it was partly due to the “rubber wheel” –a product that was based on the unique properties of vulca-nised rubber.

The invention of the pneumatic tyre(1888) resulted in asuperior solution to the automobile constructor’s biggestproblem, the contact between the vehicle and road surface.The combination of rubber and compressed air offer manysimultaneous advantages – road-holding, wear-resistanceand low weight.

Hundreds of rubber components in theengineThat was the way in which the rubber era started almost onehundred years’ ago, and that situation is still the same. Inprinciple it is the same wheel construction that keeps theworld going today.

This is not only due to tyres. The internal combustion enginehad its own teething troubles, but the unique elasticity ofrubber soon solved the problems of sealing and vibration.

Today hundreds of rubber components in the car engineassembly interact to give increased reliability, improvedperformance and reduced fuel consumption. It thereforeplays an important part in transport technology – not only onland but also at sea, in the air and in space.

Towards a new rubber age withcomposite materialsEven as rubber continues to play a major role in transporttechnology, our industry is already moving towards the nextrubber age. We are right in the middle of a dynamic newapproach to materials and construction when it comes tofinding solutions to problems, new and old.

Rubber continues to increase in importance, especially innew industrial applications where rubber products such aswear-protection rubber, hoses, vibration insulation, roofcoverings, and seals can be extensively used, and also in thefields of medicine, sports and leisure.

In order to take full advantage of all its qualities, rubber isoften used in combination with other materials. Vulcanisationtechnology has made rubber one of the most interestingcomposite materials in the world. It can be combined withmetals, fabrics, plastic, ceramic and most other materials.Thus unique qualities of combination can be achieved in theproduct. Composite technology offers unlimited options ofadapting to each individual situation.

In the same way as the wooden and steel wheels of yester-year were replaced by the inflatable rubber tyre, the rubberindustry continues to offer answers to problems where rub-ber – generally in combination with other materials – providesa solution far beyond the imagination of the layman. We aretalking about demanding applications where rubber in com-bination with new revolutionary reinforcement materials man-ages to increase strength and at the same time reduceweight.

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Factory floors in extremely heavy industries with seriousvibration problems can, in future, be laid on rubber cushionsand the correct level of air pressure controlled by computer.

Another example of the combination of rubber and air is theextensive skirting used on the hovercrafts which can be

A rubber/steel sandwich construction replaces the 90 or so componentswhich were previously required to solve the complicated problem of mount-ing rotor blades on helicopters.

Rubber and compressed airGas-proof and water-proof rubber constructions, whichthrough air or water pressure give the required consistency,load-bearing capacity, etc, have proved an excellent alterna-tive to conventional steel constructions in many areas. Rub-ber does not rust and the material can be tailor-made foreach application and, as a bonus, it requires little mainte-nance.

Current examples of this trend are inflatable medical andrescue tents, water and fuel tanks, oil booms, heat storagewatertanks in private houses, rubber boats and life-rafts.Advantages such as low weight and the option of folding afteruse into easily transportable packages are strong argumentseven when compared with modern plastic and light-alloymetal constructions.

We also have rubber suspensions which are fast replacingearlier steel constructions in automotive and railway transportwith an option, via micro processors, to control air pressure inthe rubber dampers and so give considerably more comfort.

In the USA and on the Continent one can see buses withinflatable shock-absorbers of fabric-reinforced rubber. Hereone achieves a triple effect: efficient power pick-up,increased protection for other road users and an extremelylow weight compared to conventional steel constructions.There are also a number of car models where the steeringwheel incorporates a rubber cushion which is designed toinflate on impact in order to protect the driver.

Other variations on the same theme are inflatable rubberhoses replacing steel or timber constructions in fish-cultiva-tion cages for deep sea use. Inflatable rubber bags serve asprotection cushions in the transport of fragile goods and arealso used for weather protection in loading bays. Connectedby a rubber hose to a car exhaust-pipe rubber bags cansuccessfully replace a jack. Similar applications are used tostraighten whole buildings.

found transporting vehicles and passengers across the Öre-sund and the English Channel.

Rubber in compositesWhen speaking of rubber as a construction material one findsthat opportunities offered by composite technology are vir-tually unlimited. The elastic bearings can even be found in therotor assembly unit of helicopters thus solving the very com-plicated problem of rotorblade mounting, Each bearing con-sist of a rubber and steel sandwich-construction whichreplaces the 90 or so components that were previouslyrequired. The change-over to elastic bearings has providedthe constructor with two important advantages: increasedreliability and reduced maintenance.

A classical example of the options offered by rubber compo-sites compared to steel can be found in the field of conveyorbelts. Today’s belts are made of rubber reinforced with ara-mide, a fibre that has five times the tensile strength of steel,calculated by weight. The result is a belt which is extremelylight, which will not rust and which lasts longer than steel-wirereinforced belts.

However, there does not have to be a conflict of choicebetween rubber and steel. In many cases one can solve theproblems of steel by coating it with wear-protective rubbersheeting. In that way one obtains reduced noise levels, lowerweight and more efficient corrosion resistance as a bonus.This technique is successfully used in mining and transport inthe mining and other mineral-handling industries.

Variable speed transmissionNowadays when the rubber industry has access to super-strong reinforcing materials such as aramide fibres the so-called variable belt-drive offers new opportunities to competewith today’s most advanced transmissions. Aramide rein-forced rubber belts set a new standard of reliability and offerreduced maintenance. Already we are receiving a great dealof interest from engine constructors for a flexible low-costalternative which can be tailor-made to suit the individualapplication – and which in addition, offers fully variable trans-mission.

The futureDevelopment in the rubber industry moves towards a highertechnology content in the product range. One has anexpressed ambition to take the step from sub-contractor toproducer of complete systems where rubber, or combina-tions of rubber with other materials, form an essential part ofthe construction.

Ulf LjunggrenGummiindustrins InformationstjänstBox 35008, S-400 24 Gothenburg, SwedenTel Int +31-40 98 90

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PS

The year when rubber becamefashionableWho could have expected Paris to launch rubber as a newfashion material? That, however, is what happened in 1984.All over Europe one can see handbags and luggage of alldesigns made of rubber: black as well as coloured. Rubberbelts became very fashionable. And so did bracelets, neck-laces and ear-rings!

This fashion trend apparently comes from the United Statesand is aimed particularly at teenagers. The fashion seems tobe designed with rubber materials in mind. For rubber is bothsoft and attractive.

Ulf Ljunggren

Swedish newspapers wrote at length on the rubber fashionthroughout the year. When writing this article, at the begin-ning of 1985, we can still read about the rubber fashion inSwedish women’s magazines.

A further development are fabrics made of rubber and whichcan now be seen in Sweden as well as other countries. Theycome from Italy and are used in curtains and furniture uphol-stery.

Another novelty are three-dimensional rubber prints on softknitwear used in jogging and leisure clothes. This year we willalso find trousers, shorts, sweaters, skirts and jackets withrubber prints, mainly in bold colours.

Maria Schad, artist and architect, has discovered the qualities of rubber increating new and exciting jewellery.

Trelleborg world-wide

Companies abroadTrelleborg Australia Ltd29 Cowper Street, ParramattaNSW 2150, AustraliaTel 009 61-2 633 20 45Tlx 71-74 220

Trelleborg BTR Pty LtdSydney:Box 117, Auburn NSW 2144,265 Parramatta Road, P.O.AustraliaTel 009 61-2 647 28 22Tlx 7 1-22 992Perth:Box 283, Cloverdale WA 6105,AustraliaTel 009 61-9 458 30 79Tlx 71-93 990

Trelleborg SA-NVBvd Auguste Reyers 207-2091040 Bruxelles, BelgiumTel 009 32-2 735 8197Tlx 46-23313MD: Stefan Johansson

Trelleborg Ltd2600 John Street, Markham,Ontario L3R 3W3, CanadaTel 009 1-416 475 5000Tlx 2106-966 719MD: Harry Mills

Trelleborg Gummi A/SPostboks 118, DK-3000Helsingør, DenmarkSundtoldvej 8Tel 009 45-2 21 10 11Tlx 55-411-32MD: Bo C Persson

Trelleborg IndustriteknikPostboks 55, DK-2620Albertslund, København,Denmark, Stensmosevej 27Tel 009 45-2 62 10 77

Trelleborg Gummi A/SPostboks 257, DK-8000 Århus CDenmark, P Hiort-Lorentz v. 4Tel 00945-618 25 22

Värnamo Gumm i ApSNy østergade 20, DK-1101København, DenmarkTel 009 45-1 11 44 06Tlx 55-15014MD: Gert Ehrhorn

Oy Trelleborg AbDrumsövägen 54 B,00200 Helsinki 20, FinlandTel 009 358-0692 65 00Tlx 57-125 332MD: Paul Nikku

Oy Värnamo Gummi AbDrumsövägen 54 B,00200 Helsinki 20, FinlandTel 009 358-0692 65 00Tlx 57-125 332MD: Hannes Heimonen

Trelleborg SABP 57, F-936 02 Aulnay-Sous-Bois,France50, Rue Henri BecquerelTel 009 33-1 866 22 91Tlx 42-212328MD: Olof Dahlquist

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Augers SADelivery address:133 Ave F Roosevelt,F-691 50 Decines, FranceTel 009 33-7 880 27 77Tlx 42-340 295MD: Christian GiraudOffice:5 Rue E Pottier, BP 6081,F-696 04 VilleurbanneTel 00933-7 880 22 54Tlx 42-340 295

Cofic SA6, Bvd des Chutes-LavieF-130 13 Marseille,FranceTel 009 33-91 66 68 92Tlx 42-440 768MD: Martin Serpaggi

Sico SA2, Chemin Montlaisir,F-441 00 Nantes, FranceTel 009 33-40 46 99 41MD: Jacques Launeu

Trelleborg BVPostbus 33, NL-9600 AAHoogezand, The NetherlandsFoxham 57Tel 009 31-5980 159 11Tlx 44-530 55MD: Stefan Johansson

Trelleborg Rubber (Nederland) BVPostbus 660, NL 3800-ARAmersfoort, The NetherlandsTel 009 31-3375 19 54Tlx 44-79070MD: Hans Dammers

Cleton & MeijerPostbus 54, NL 3130 ABVlaardingen, The NetherlandsVan Beethovensingel 130-132Tel 009 31-10 34 59 22Tlx 44-231 32MD: Hans Dammers

Spruit Transmissies BVDe Punt 10, NL-1721 BZBroek op Langedijk, The NetherlandsTel 009 31-2260 65 00MD: Jan Spruit

Trelleborg Iran CoHafez Ave Sommaye Str 290,15996 Teheran, IranTel 009 98-83 44 71Tlx 215570

Trelleborg SrlVia Reiss Romuli 122/4,101 48 Torino, ItalyTel 009 39-11 220 16 66Tlx 43-224095MD: Kjell Larsson

Trelleborg SA de CVAv Homero 1425-1005,Col Los Morales, DelegacionMiguel Hidalgo,11510 Mexico D.F., MexicoTel 009 52-395 45 15Tlx 22-177 65 83

Trelleborg Atlas A/SPostboks 14, Leirdal,N-1008 Oslo 10, NorwayProf Birkelandsvei 36 DTel 009 47-2 32 20 90Tlx 56-71983MD: Oddvar Bredde

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Trelleborg Atlas A/SSiva, N-2200 Kongsvinger, NorwayTel 009 47-66 154 55Loc Mgr: Arnfinn Ruud

Trelleborg Atlas A/SN-7300 Orkanger, NorwayTel 009 47-7 48 13 33Loc Mgr: Snorre Danielsen

Trelleborg Atlas A/SPostboks 1880,N-8010 Bodin/Bodö, NorwayTel 009 47-81 23 282Loc Mgr: Reidar Rikardsen

Trelleborg Atlas A/SPostboks 2010, N-9045Kanebogen/Harstad, NorwayTel 009 47-82 66 890Mobiltel 55 447Loc Mgr: Jarl Hugo Jensen

Trelleborg Atlas A/SVestre Rosten 73, N-7080Heimdal/Trondheim, NorwayTel 009 47-7 88 77 19Loc Mgr: Knut Menne

Trelleborg Atlas A/SLiamyrene 6, N-5090 Nyborg iÅsane/Bergen, NorwayTel 009 47-5 18 16 80Loc Mgr: Knut Hammer

Trelleborg Atlas A/SPostboks 262, N-4000Stavanger, NorwayTel 009 47-4 52 05 40Loc Mgr: Inge Berge

Atlas International A/SPostboks 14, LeirdalN-1008 Oslo 10, NorwayTel 009 47-2 32 20 90Tlx 56-71983MD: Oddvar Bredde

Trelleborg (Gummi) A/SPostboks 14, Leirdal,N-1008 Oslo 10, NorwayProf Birkelandsvei 36 DTel 009 47-2 32 20 90Tlx 56-71978

Trelleborg Vest A/SPostboks 100, N-5363Ågotnes, NorwayTel 009 47-5 33 47 82Tlx 42216

Trelleborg Gummi AGPostfach 619, CH-4000Basel, SwitzerlandGartenstr 120Tel 009 41-6122 27 55Tlx 45-62866MD: Kjell Larsson

Trelleborg SAGeneral Peron, 32 (22 G)28020 Madrid , SpainTel 009 34-455 16 11Tlx 52-42811MD: Rafael Jiménez-Caceres

Al Transmission LtdUnit 132, Stag Industr Estate,Endemere Rd, Coventry CV6, 5PY,Great-BritainTel 009 44-203 66 73 73TIx 51-312 532MD: Thomas MankertLoc Mgr: P Snazell

Norsalta LtdAtlas House, Beecham Close,Aldridge, Walsall West Mid-lands WS9 8UZ, Great BritainTel 009 44-922 55 334TIx 51 -337 110MD: Derek Baker

Trelleborg Ltd90 Somers Road, Rugby,Warwickshire CV22 7ED,Great BritainTel 009 44-788 627 11TIx 51-311 144MD: Thomas Mankert

Värnamo Rubber Co (UK) Ltd23 Old Park Road, Hitchin,Herts SG5 2JS,Great BritainTel 009 44-462 565 78Tlx 51-826430Tfax 009 44-462 360 69MD: Lars Nordlander

Trelleborg Inc30 700 Solon IndustrialParkway, Solon, Ohio44139, USATel 009 1-216 248 8600Tlx 23 433 2046MD: Thomas Older

Trelleborg Gummiwerke GmbH2350 Neumünster 1,Postfach 2509, West GermanyIndustriestr, Wasbek/NeumünsterTel 009 49-4321 6060Tlx 41-299 531MD: Wolfgang Ehrhardt

Atlas IndustriegummiDeutschland GmbHRudolf Diesel Str 34, D-5350Euskirchen, West GermanyTel 009 49-2251 6944Tlx 41-886 9124MD: Winsrid Buszkiewicz

Trelleborg Gummi GmbHZeleborgasse 24, A-1120Wien, AustriaTel 009 43-222 83 65 08Tlx 31868MD: Hans Brunner

Swedish ManufacturingCompaniesTrelleborg AB231 81 TrelleborgNygatan 102Tel 0410-51 000Tlx 32950MD: Rune Andersson

Trelleborg AB SjöbofabrikenBox 57, 27500 SjöboSolgatan 2Tel 0416-120 80Loc Mgr: Bengt Andersson

Trelleborg AB YstadfabrikenBox 24, 27100 YstadDragongatan 18Tel 0411-139 20Tlx 33369Loc Mgr: Bertil Hellberg

Sigma ABStålgatan 2, 703 58 ÖrebroTel 019-10 47 00Tlx 73468MD: Gunnar Söderberg

Ulvex ABEkbacksvägen 10,161 30 BrommaTel 08-26 25 60Tlx 19365MD: Bengt Lizell

Tekniska GummifabrikenJakobsberg ABMD: Bengt Lizell

Sales:Stålgatan 2, 703 58 ÖrebroTel 019-10 47 00Tlx 73468

Manufacture:Ronevägen 1, 620 12 HemseTel 0498-806 32, 808 41,844 70Tlx 4167Lingvide, 620 11 HavdhemTel 0498-811 40, 811 11

AB Värnamo GummifabrikBox 1004, 331 01 VärnamoTel 0370-481 00Tlx 70063Tfax 0370-482 48MD: Lars Nordlander

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Swedish Tyre Tube ABBox 931,251 09 HelsingborgTel 042-12 61 00MD: Per-Ingvar Jönsson

Swedish Sales CompaniesEskilstuna Gummi ABBox 1108, 631 80 EskilstunaNystrandsg 29Tel 016-12 50 90MD: Folke Swensson

Trelleborg ABBox 5025, 791 05 FalunVallavägen 14Tel 023-195 20Loc Mgr: Gunnar Larsson

Trelleborg ABBox 702, 801 28 GävleFemte Tvärg 2Tel 026-10 00 45Loc Mgr: Johan Unneberg

Trelleborg ABBox 14069, 400 20 GöteborgEbbe Liberathsg 30Tel 031-20 06 10Loc Mgr: Claes Kamf

Trelleborg Mining ServiceBox 14069, 400 20 GöteborgVarbergsg 2–4Tel 031-20 00 80Loc Mgr: S-Å Thörnkrantz

Trelleborg ABHerkulesv 10, 552 40 JönköpingTel 036-11 82 20Loc Mgr: Ingmar Naumark

Trelleborg ABTorsåsgatan 36, 392 39 KalmarTel 0480-203 01Loc Mgr: Mikael Blent

Trelleborg ABSpärrgatan 6, 653 41 KarlstadTel 054-15 67 20Loc Mgr: Tore Dahlman

Trelleborg ABMidgårdsv 26, 951 52 LuleåTel 0920-132 50Loc Mgr: Lars Eriksson

Trelleborg ABVinkelgatan 3, 211 24 MalmöTel 040-93 53 40Loc Mgn: Gert Lindal

Maskinbolaget R Ekström ABBox 21, 611 22 NyköpingHemgårdsvägen 6Tel 0155-681 00, 681 70

Trelleborg ABBox 190, 931 22 SkellefteåTjärhovsg 12 ATel 0910-171 45Loc Mgr: Sven Norvall

Trelleborg ABBox 11032, 161 11 BrommaKarlsbodavägen 13– 15Tel 08-98 01 00, 98 82 35Loc Mgr: Lennart Hedman

Trelleborg ABBox 6028, 850 06 SundsvallBu!tgatan 7Tel 060-15 03 30Loc Mgr: Alf Larsson

Sundsvall HydraulikBox 3039, 850 03 SundsvallKontorsvägen 9Tel 060-11 73 50, 15 26 59

Trelleborg ABBergaholmsv 1, 151 42SödertäljeTel 0755-870 30Loc Mgr: Curt Brandström

Trelleborg ABMätarvägen 5, 901 10 UmeåTel 090-14 21 25Loc Mgr: Tommy Åström

Tore Roos MaskinArnbomsgatan 10721 32 VästeråsTel 021-13 67 33

Trelleborg i Örebro ABBox 320, 70104 ÖrebroRadiatorvägen 7Tel 019-11 91 95MD: Jan Berggren

Hollingworth MaskinBox 320, 701 04 ÖrebroGatuadress: Radiatorvägen 7Tel 019-11 94 30

Other companies inSwedenTrelleborg International AB231 81 TrelleborgTel 0410-51 000MD: Sture Svennberg

Trellex Orebed AB231 81 TrelleborgTel 0410-51 000MD: Bertil Mattsson

TP-Data AB231 81 TrelleborgTel 0410-51 000MD: Ingemar Gerbro

Atlas Gummi ABGranitv 8, 552 67 JönköpingTel 036-16 92 30Tlx 70012MD: Oscar Dahlbäck

Associated SwedishcompaniesAB Convectus231 81 Tre!leborgTel 0410-51 000MD: Bo Lundquist

Ing Torsten Ullman AB340 36 MohedaTel 0472-708 20Tlx 52120MD: Rudolf Samuelsson

Trinova AB231 81 TrelleborgTel 0410-51 000MD: Sven Ingvar Olsson

43

r

Perpetual motion fromTrelleborg.

Nobody knows the age of amagnetic mill lining from Trelle-borg. Our first installation, so farshows no sign of wear. The millthat we lined is in use day andnight.To date 1.2 million tons havebeen milled at LKAB in Kiruna, aprocess which exposes the millwalls to hard wear.About 20 years ago Trelleborgbegan to supply wear-resistantrubber linings for that type ofmill. In one go equipment life wasmultiplied. Many thought thatwear-resistant rubber linings wasthe nearest thing to absolutewear protection. Development inrubber technology has, however,taken yet another step forward.The magnetic lining has becomean important addition to ouralready established systemsCeramic magnets are vulcanisedinto the wear-resistant rubber.The crushed iron ore sticks to thelining and gives it a protectivesurface. The wearing materialprotects itself from itself.There is no wear at all!The magnetic mill lining is oneexample of how Trelleborg cre-ates simpler and more efficientconstructions in a number ofdifferent fields.

THE TRELLEBORG GROUP IN A NUTSHELL. Trelleborg is a high technology company in the polymer trade. We market advanced products made of rubber,thermoelastics, plastics and composite materials, mainly for industrial use. Our turnover is in the region of SEK 2,000 M. More than half of this figure emanatesfrom our international operations. As well as in Sweden Trelleborg has manufacturing companies in the Netherlands and West Germ any. We have licensees inAustralia, Japan and USA and own sales companies in almost 20 countries. Trelleborg has approximately 4,700 employees and an estimated 5,800shareholders.

TRELLEBORG The SpecialistsTrelleborg AB, S-231 81 Trelleborg, Sweden. Tel Int +410 51 000.

In 1984 we launched a campaign throughout Sweden on the theme “The Specialists“. This was aimed at promoting a better understanding of Trelleborg.

The guardian angels from

Often only seconds part an incident from acatastrophy.Maybe a leak has to be sealed in a gas-filled room.Or injured people quickly evacuated to receive

immediate treatment.Operations which require reliable and easy-to-handle protective equipment.

Trelleborg’s chemical repellant protectiveclothing makes rescue work less difficult.The chemicals repellant protective clothingis made of fluoride rubber.Thanks to the remarkable resistanceof this material we can make the suitboth thin and flexible.

The person wearing it can quickly andwithout hindrance carry out rescue

operations in dangerous environments.The World’s first inflatable operatingtheatre has become a reality.Trelleborg’s rescue tent with its inflat-able frame can quickly be erected closea place of accident. In roughly 10minutes a compact package can betransformed into a protected room.In collaboration with the MedicalBoard of the Swedish Armed Forcesand Gambro we can offeroperation equipment for the tent.Trelleborg work with safety atseveral levels.Our oil protection programme isknown all over the world.Our range also includes

accident prevention products.Safe hoses, protective rubber

materials andenvironmentably

suitable vibrationinsulators.

THE TRELLEBORG GROUP IN A NUTSHELL. Trelleborg is a high technology company in the polymer trade. We market advanced products m ade of rubber,thermoelastics, plastics and composite materials, mainly for industrial use. Our turnover is in the region of SEK 2,000 M. More than half of this figure emanatesfrom our international operations. As well as in Sweden Trelleborg has manufacturing companies in the Netherlands and West Germ any. We have licensees inAustralia, Japan and USA and own sales companies in almost 20 countries. Trelleborg has approximately 4,700 employees and an es timated 5,800shareholders.

TRELLEBORG The SpecialistsTrelleborg AB, S-231 81 Trelleborg, Sweden. Tel Int +48-410 51 000.