Garware UK ties up deal for Norwegian rope maker
The UK subsidiary of Indian net,rope, and technical textiles maker Garware Technical Fibres Ltd has signed a agreement to acquire Norwegian company Offshore & Trawl Supply AS (OTS), which supplies advanced synthetic rope solutions for the offshore oil and gas, aquaculture, marine fishing, and commercial fishing sectors.
“This acquisition marks a key milestone in Garware’s global growth trajectory and reinforces its commitment to delivering innovative, high-performance solutions to customers around the world,” said the company’s chair and managing director Vayu Garware.
Mutual growth
The products supplied by OTS, which has a factory near Ålesund, complement Garware’s existing capabilities while opening up new geographies, customer segments, and applications for mutual growth, Garware said in a press release.
“This acquisition is a strategic alignment with our mission to co-create locally relevant and globally scalable innovations that bring value to our customers,” said Vayu Garware.
Founded and led by Rolf Arne Giskeødegård, OTS has built what Garware called a legacy of innovation, resilience, and excellence.
“We are excited to continue building on the strong foundation established by Rolf and the OTS team,” said Vayu Garware.
