Garware Technical Fibres Limited has informed the Exchange regarding a press release dated Jun 23, 2025, titled "Press Release".
GARFIBRES · price
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Garware Technical Fibres Limited (GTFL) announced that its wholly owned UK subsidiary has signed a definitive Share Purchase Agreement to acquire Offshore & Trawl Supply AS (OTS), a Norway-based manufacturer of advanced synthetic cordage solutions for offshore oil & gas, aquaculture, marine, and commercial fishing industries. OTS is based in Valderøy, near Ålesund, Norway, and brings a skilled team of engineers and domain experts. The acquisition is funded through GTFL's internal accruals, with the company stating it will be EPS accretive and positive for ROCE. The deal is part of GTFL's global expansion strategy to strengthen its European footprint and broaden its product portfolio in offshore and aquaculture segments.
Positive for shareholders — the acquisition is expected to be EPS accretive, enhance ROCE, and expand GTFL's reach into high-value European markets without external debt funding. It signals a capital-efficient, growth-oriented move that could support long-term revenue diversification and margin expansion.