HANOVER, Germany—HF Tire Tech Group transferred its extrusion technology business to Troester GmbH & Co. K.G. on May 1.
HF said Troester will maintain the extrusion business unit's location in Hamburg, Germany, and all employees have transferred with the business.
"The extrusion business has changed significantly in recent years and many of our customers are increasingly asking for complete lines and turnkey solutions for rubber extrusion," HF Managing Director Joern Seevers said in a statement.
He added that 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.
"The acquisition enables us to take over technologically excellent extrusion products as well as a dynamic service and engineering organization, which we are looking forward to and which will open up new opportunities for Troester in the international market," Troester Managing Partner Peter Schmidt said in a statement.