Gurit acquires High Modulus
By IBI Magazine
Swiss-headquartered Gurit has acquired composite engineering and materials competitor High Modulus of New Zealand.
The 'medium single-digit million Swiss franc' acquisition price was not disclosed.
Management and marine experts at High Modulus will join Gurit to form SP/HighModulus, a composite specialist focussing on the marine industry.
Graham Harvey, general manager marine at Gurit, will be at the helm of the the combined SP/HighModulus marine business.
CEO of High Modulus Paul Goddard will continue to oversee Gurit's Asia/Pacific market. Co-owner of High Modulus Richard Downs-Honey will develop the business of B3 SmartPac, a material solution introduced by High Modulus.
High Modulus has its headquarters in Auckland, New Zealand, and subsidiaries and offices in Australia, the UK, US and Singapore. The organisation employs 70 people worldwide.
Gurit targets race boats, super sailing and motor yachts, and high-end production boats with its composite solutions.
(4 December 2009)
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