Shares of Garware Technical Fibres rose 3% in morning trade after the company announced a key international acquisition to boost its global presence. The company, through its wholly owned UK subsidiary, has acquired Norway-based Offshore & Trawl Supply AS (OTS)—a move aimed at strengthening its foothold in the offshore, aquaculture, and marine sectors across Europe.
OTS, headquartered near Ålesund, Norway, is known for its premium synthetic cordage products. The acquisition aligns well with Garware’s existing product portfolio while opening doors to new geographies and customer segments.
With this acquisition, Garware not only expands its market reach but also gains access to a team of highly skilled Norwegian engineers and domain experts, known for their technical expertise and innovation—values that mirror Garware’s own approach.
Importantly, the acquisition is being funded entirely through internal accruals and is expected to be EPS-accretive. The move also enhances the company’s return and cost efficiency (RaCE) metrics, reaffirming its strategy of disciplined capital allocation.
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