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HAVANT, U.K. – Clyde Marine plc held an Extraordinary General Meeting on Aug. 22 and voted to approve changing the company name to Lewmar Marine plc., the company reported in a statement yesterday.
The name change, announced by Peter O’Connell, newly promoted CEO, is expected to better reflect the true nature of the company’s business to the financial market, according to the company.
Lewmar Marine plc is the holding company of Lewmar and Navtec, the principal business of which is the manufacture and distribution of deck equipment and rigging for leisure boats.
In July, Navtec, a supplier of performance rigging for the marine industry, was integrated into Lewmar to become a branded division of the company. This simplified the group’s channel to market and supply chain, increasing market reach and reducing overhead costs, according to the manufacturer.
Lewmar and Navtec combined have four factories and nine sales subsidiaries, offering customers significant manufacturing resources and technical support, according to O’Connell, who was promoted recently by the board of directors to chief executive officer, from his previous position as chief operating officer.
“The name change is yet another step in our efforts to promote Lewmar as a global brand,” he said.
Lewmar Marine plc is a publicly traded company on London’s PLUS Markets.
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