SP and Modulus combine after Gurit acquisition
ACQUISITION: SP, the marine business of Gurit, has acquired its composite engineering and materials competitor High Modulus and will now operate under the new brand name, SP/HighModulus.
The move comes as Gurit Holding AG, the international group which owns and operates SP, announced last week that it had acquired High Modulus in a deal that will see Gurit expand and strengthen its position in the global marine composite engineering and materials market.
The acquisition is in line with the group’s strategy to build leading market positions in its target market areas of marine, wind energy and transportation.
SP will combine its expertise with that of High Modulus, headquartered in Auckland, New Zealand, to form a market leading marine composite engineering and materials company. All of High Modulus’ renowned management team and marine experts will join Gurit to create the new market leader.
SP says under the new brand name of SP/HighModulus the company will be a powerful entity in the marine composites market, offering SP’s full composite materials range as well as High Modulus’ B3 SmartPac solution.
Graham Harvey, general manager marine at Gurit, will be at the helm of the combined SP/HighModulus marine business. ‘The merger of SP’s marine engineering and materials business with High Modulus’ renowned engineering and well-established B3 SmartPac materials solution will create a convincing offer for the global marine market,’ he said.
Images for this article - click to enlarge
Unless otherwise stated, all images copyright © Mercator Media 2012. This does not exclude the owner's assertion of copyright over the material.
