Garware Technical Fibres Share Price Surges Over 3% on Acquisition of 2 Norwegian Firms

Garware Technical Fibres Limited (GTFL), a leader in technical textiles, has made a significant move to strengthen its international presence. In a key development disclosed to the BSE and NSE, the company announced the successful completion of its acquisition of Offshore & Trawl Supply AS (OTS) and Advanced Mooring Supply AS (AMS), both based in Norway.

Completion of Acquisition Formalities

In continuation of its earlier intimation dated June 23, 2025, Garware Technical Fibres confirmed that all conditions related to customary closing and adjustments have been successfully fulfilled. 

As per exchange filings, “We inform you that all conditions related to customary closing and adjustment have been met with and the acquisition of 100% issued equity share capital of Offshore & Trawl Supply AS (‘OTS’), Norway and Advanced Mooring Supply AS (‘AMS’), Norway has been successfully completed by Garware Technical Fibres UK Pvt. Ltd. (‘GTF UK’), Wholly Owned Subsidiary Company of the Company on 07th July 2025.”

Strategic Implications for Garware

With this acquisition, both OTS and AMS have become wholly owned subsidiaries of GTF UK, and consequently, step-down wholly owned subsidiaries of Garware Technical Fibres Limited. 

This strategic move marks a milestone in GTFL's expansion strategy, particularly in the offshore and marine solutions market in Europe. It is expected to enhance the company’s capabilities and market access in high-demand international regions.

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Garware Technical Fibres Share Performance 

As of 08 July 2025, at 10:26 AM, Garware Technical Fibres share price is trading at ₹936.36 per share, a surge of 3.36%.

Conclusion

The acquisition of OTS and AMS aligns with Garware Technical Fibres' vision to expand its global footprint and provide innovative solutions in the marine and offshore segments. By strengthening its presence in Norway, GTFL is poised to gain a competitive edge in the international technical textiles market.

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