Overseas mast manufacturers merge

Author:
Publish date:
Social count:
0

Denmark-based Nordic Mast and New Zealand-based Southern Spars announced a merger.

"The merger will create a combined entity with over 350 staff that will be better equipped to compete on the world stage, supplying a comprehensive range of high-quality carbon fiber masts, booms and carbon rigging to meet the demands of all market sectors," the companies said in a statement.

The merger took effect Monday. Terms of the deal were not disclosed.

"At Southern Spars we have been looking for some time to both increase our presence and commitment to the European market and expand our product offering in carbon masts and carbon rigging," group general manager David Glen said in a statement.

"Southern Spars is a market leader with innovative mast and carbon rigging concepts for the grand prix race, ocean racing and performance superyacht markets," he added. "We now will have the opportunity to collaborate with the team at Nordic Mast, who have considerable experience and presence in the European smaller race boat, performance cruiser and production cruiser markets."

The existing Nordic Mast premises and all staff will be retained, and the operation will continue to be managed by Lars Netterstrøm, who will also assume a wider group role.

"We are proud to have the opportunity to join with Southern Spars and to expand our business, ultimately bringing even better carbon masts and booms to our clients in Europe," Netterstrom said in a statement.

Related

Sales stagnate in March

Overall boat sales in March were slightly lower compared to last year and year-over-year growth was down by just over 1 percent, according to Statistical Surveys Inc., data that was gathered for 30 states.