Hamburg / Hanover, Germany – Harburg-Freudenberger Maschinenbau GmbH (HF Group) has sold its extrusion technology business unit to Hanover-based Troester GmbH & Co. KG, the companies have announced.
The transfer was completed on 1 May, though terms of the deal were not disclosed in the press statement issued 3 May.
The HF extrusion business, it said, will continue to be based in Hamburg and all employees will transfer to Troester.
The rubber extrusion business has changed significantly in recent years with customers increasingly asking for complete lines and turnkey solutions, explained Dr. Joern Seevers, managing director of HF Group.
“With the transfer of ownership to Troester we are ensuring that extrusion – which today is highly specialised in the Indian market – can continue to develop successfully in their field of expertise,” said Seevers.
The HF boss added that Troester “shares similar values as HF and will continue to develop the acquired business together with its highly qualified employees."
Troester said the transaction would to enable it to further develop and “establish itself as one of the world's leading system suppliers for rubber extrusion machinery and equipment.”
"The acquisition enables us to take over technologically excellent extrusion products as well as a dynamic service and engineering organization,” Dr. Peter Schmidt, managing partner of Troester.
In particular, Schmidt expects to realise new opportunities for Troester, particularly in overseas markets.
“HF Extrusion's technical equipment and scope as well as their international network… complement Troester’s current portfolio thus providing our customers with new and enhanced equipment solutions,” he stated.
For its part, HF said it will now focus on its mixing equipment, tire building machines, curing presses and other machinery, expanding its market position in these areas.
Existing HF extrusion orders and projects will be completed in close cooperation with Troester, the statement concluded.
Both teams, it said, “will continue to ensure continuity in all future business relations with customers and suppliers from their respective locations in Hanover and Hamburg.”