SP and High Modulus combine after Gurit acquisition

by Hannah Keddie on 15 Dec 2009 SP, the marine business of Gurit – supplier to the race boat, superyacht and high-performance custom, production and workboat sector – 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.'

About Gurit
SP is the marine business of Gurit and currently supplies the superyacht market, high-performance custom, production and workboat sectors. The companies of Gurit Holding AG, Wattwil/Switzerland, are specialised on the development and manufacture of high-end composite materials featuring bespoke physical and chemical characteristics.

The comprehensive product range comprises fibre reinforced prepregs, structural foam, gel coats, adhesives, resins and consumables as well as certain finished parts. Gurit supplies growth markets in Wind Energy, Transportation and Marine. The international Group has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Australia, New Zealand, the USA, India and China.

www.gurit.com/marine