BARCELONA, Spain (July 28) — Farrel Corp. has acquired the technology and related assets of Spanish rubber machinery maker Gumix S.A.
The purchase ends attempts by Gumix to refinance after two years of financial difficulties. Farrel didn't give disclose the cost of the deal.
Newly formed Farrel Spain S.L. will continue to offer the full line of Gumix products, including the Gumix rubber extrusion/gear pump technology, Farrel said. Farrel Spain also will provide full remanufacturing services for Farrel and Gumix products.
Gumix specializes in the development, design and manufacture of rubber mixing, extrusion and processing equipment.
Alberto Shaio, Farrel president and CEO, said the acquisition strengthens the U.S.-based company's product mix, and Gumix's facilities in Spain provides Farrel with a physical presence in Europe.