Engineered polymer solutions to acquire leading Norwegian cordage company, Offshore & Trawl Supply, as part of its global expansion strategy
The stock is up by 37 per cent from its 52-week low of Rs 664.10 per share and gave multibagger returns of over 2,000 per cent in a decade.
On Tuesday, shares of Garware Technical Fibres Ltd gained 5.5 per cent to Rs 924.05 per share from its previous closing of Rs 863.65 per share. The shares saw a spurt in volume by more than 27 times.
Garware Technical Fibres Limited (GTFL), a global leader in technical textiles, announced that its wholly-owned UK subsidiary, Garware Technical Fibres UK Private Limited, has entered into a definitive Share Purchase Agreement to acquire Offshore & Trawl Supply AS (OTS). Based in Norway, OTS specialises in advanced synthetic cordage solutions for the offshore oil & gas, aquaculture, marine, and commercial fishing industries. This acquisition is a significant step in GTFL's global expansion strategy, aiming to enhance its offerings in the offshore and aquaculture sectors, expand its European presence, and drive capital-efficient, innovation-led growth.
This strategic acquisition aligns perfectly with GTFL's mission to deliver innovative, high-performance solutions globally. OTS, headquartered in Valderoey, Norway, is a reputable European company known for its premium, value-added synthetic cordage products, which complement GTFL's existing capabilities. Furthermore, the acquisition brings a team of skilled Norwegian engineers and domain experts whose technical depth, customer focus, and innovative mindset resonate with GTFL's core values.
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About the Company
Garware Technical Fibres Limited (GTFL), headquartered in Pune, India, is a globally recognised manufacturer of engineered polymer solutions with over 50 years of experience and a presence in more than 75 countries. The company is celebrated for its pioneering innovations across diverse sectors including aquaculture, fisheries, agriculture, sports infrastructure, coated fabrics, and geosynthetics, always prioritizing sustainability, performance, and customer needs in its solutions.
The company has a market cap of over Rs 9,000 crore with a PE of 39x, an ROE of 19 per cent and an ROCE of 24 per cent. The stock is up by 37 per cent from its 52-week low of Rs 664.10 per share and gave multibagger returns of over 2,000 per cent in a decade.
Disclaimer: The article is for informational purposes only and not investment advice.