LUBECK, Germany (Jan. 5, 2009)—Harburg-Freudenberger Maschinenbau GmbH has acquired fellow machinery maker Farrel Corp.
A unit of L. Possehl & Co., HF has obtained a maker of batch mixers for the rubber industry and continuous mixers for plastics processors that has annual sales of about $81.5 million. Farrel has 300 employees in the U.S., Great Britain, Spain and Singapore, HF said.
The terms of the purchase weren't disclosed.
The deal expands HF's product lines and makes it less dependent on the tire industry, said Norbert Scheuch, who is responsible for HF within the executive board of Lubeck-based Possehl. He said Farrel will be integrated into HF as an independent segment.
The purchase follows the January 2007 acquisition of the mixer manufacturing division of Italian company Techint-Pomini by HF. Scheuch said the two deals consolidates the German firm's position as a global market leader in rubber mixing technology.