Credit: Trelleborg Sweden-based engineering group Trelleborg said Monday it had signed an agreement and finalized the divestment of its offshore oil and gas operation in Skelmersdale, England. "The company is part of the overall offshore operation in the Businesses Under Development reporting segment. The buyers are individuals holding senior positions in the U.K. offshore business being sold. The divestment is part of Trelleborg’s strategy to focus on selected market segments," Trelleborg said. According to Trelleborg, the divested company had annual sales of approximately SEK 580 million (around $68,56 million) in 2020. The company Trelleborg sold develops and manufactures products ranging from subsea buoyancy modules, which are used for offshore installations, to bend stiffeners, cable protection and bend restrictors, used to secure, guide and protect subsea cables from excessive movement.