Engineering and materials acquision

High Modulus bought by SP/Gurit

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.

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, which comprises optimised structural design, with pre-cut reinforcements and core materials, designed to reduce complexity and cost in production boatbuilding. The marine engineering experience, as well as geographical presence of High Modulus, will also bolster that of SP, a world leader in marine composites.

Graham Harvey, General Manager Marine at Gurit, will be at the helm of the combined SP/HighModulus marine business as it enters this exciting new phase. Graham Harvey commented on the transaction: “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.”