Downey-based Kirkhill Manufacturing Co., makers of rubber compounds used by the aerospace, medical and automotive industries has been acquired by Swedish competitor, Hexpol, for $49 million.

Kirkhill, which also does business as Kirkhill Rubber, reported its annual sales at $46 million.

Kirkhill will move its Downey operations to a recently acquired facility in Long Beach. Another facility in Athens, Ga., will move to a Hexpol site in the U.S., the company said.

Manufacturing, retail and trade reporter Shwanika Narayan can be reached at snarayan@labusinessjournal.com or 323-556-8351. Follow her on Twitter @shwanika.