Garware Technical Fibres Limited — JV/Acquisition, 23-06-2025: Acquisition

Garware Technical Fibres has announced a board meeting to approve the acquisition of 100% equity of Offshore & Trawl Supply AS (OTS) and Advanced Mooring Supply AS (AMS), Norway, through its UK subsidiary. The deal value stands at NOK 122 million (~INR 111 Cr), making OTS and AMS wholly owned subsidiaries. OTS is a leading manufacturer of synthetic fiber ropes for offshore oil & gas, fisheries, and aquaculture, with steady revenue growth around NOK 100 million in FY24. AMS focuses on offshore floating wind energy solutions but is yet to start operations. This acquisition strengthens Garware’s presence in high-tech fiber ropes and expands its footprint in Europe’s offshore and renewable energy sectors, supporting long-term growth in value-added ropes.