Boating Industry Intelligence You Can Profit From
ZURICH, Switzerland — Gurit has signed a contract to acquire the Spanish balsa material producer Balseurop. The transaction is divided into a purchase of a majority stake now, followed by performance-based installments during the coming years.
The total purchase price is approximately $28 million.
The privately owned Balseurop operates its own processing factory in Ecuador. The company is expected to exceed sales of $32.6 million in 2011. Having built a trading position in balsa wood over the past two years, Gurit says this acquisition concludes the strategic expansion of its core material offering for the wind energy and marine markets.
- Can’t get enough boating news? Subscribe to our blog’s RSS feed, follow us on Twitter or look for “Boating Industry” on Facebook and LinkedIn.
- For more of the latest news, click here.