WATTWIL, Switzerland — Gurit, a Swiss producer of composite materials for wind energy, transportation and marine applications, has acquired its composite engineering and materials competitor High Modulus, headquartered in Auckland, New Zealand.
“Combining Gurit’s SP-branded marine engineering and materials business with High Modulus’ experience, its B3 SmartPac solution and geographic presence makes the combined entity – SP/HighModulus – a truly market-leading marine composite engineering and materials expert as the global boat building market starts to gradually recover,” Gurit said in a release about the acquisition.
High Modulus has subsidiaries and offices in Australia, the United Kingdom, the U.S., and Singapore. Paul Goddard, CEO of High Modulus, will continue to oversee Gurit’s Asia/Pacific market, while Richard Downs-Honey, co-owner of High Modulus, will work on developing the B3 SmartPac business.
Graham Harvey, general manager marine at Gurit, will be at the helm of the combined SP/HighModulus marine business.