HANOVER, Germany—Troester GmbH & Co. K.G. has acquired the extrusion technology business of the HF Tire Tech Group.
In a deal completed May 1, Troester said it will maintain the extrusion business unit's location in Hamburg, Germany, and all employees have transferred with the business. HF said the move was driven by its customers asking for complete lines and turnkey solutions for rubber extrusion, and Troester ensures that the extrusion business can develop successfully in its field of expertise.
HF, on the other hand, will be able to focus on its mixing equipment, tire building machines, curing presses and other machinery. Existing HF extrusion orders and projects will be completed in close cooperation with Troester, according to HF.
"Troester has always been a world leading manufacturer of extrusion equipment for the rubber industry," Troester Managing Partner Peter Schmidt said in an email. "While HF has decided to decline from this business and to focus on other fields of equipment for the tire industry, it was in our interest to further concentrate and grow in the rubber extrusion business."
Troester said the move will open up new opportunities for the firm in the international market. Schmidt said the HF extrusion business has been very strong in the India and American markets. Troester, on the other hand, has had a strong focus in the East, especially in China, with European and American customers.
The deal brings Troester a leading position in nearly all global markets, Schmidt said.
"HF has been a very strong player on the market for extrusion equipment for decades," he said. "Through their strong installed basis all over the world we really now have a couple of new costumers which we did not have before. Particularly in India the customer basis of HF has been stronger than ours."
HF's business consists of 26 employees, all located in the Hamburg facility and consisting of sales, service, engineering and project management. Schmidt said no manufacturing activities are part of the deal.
The Troester rubber business division's remaining facilities are in Hanover, Germany; Cuyahoga Falls, Ohio; and Shanghai in addition to a cooperation with Tekfab Engineers—an India-based manufacturer of downstream equipment.
"This will enable us in the future to offer a wider range of locally produced downstream equipment for the Indian market," Schmidt said. "Our product range covers the full range of applications of extrusion in the rubber industry. A very strong focus is on all applications used in the tire industry. In addition we also produce extrusion equipment for profile and hose equipment and also special applications like silicone extruders."