BROUSSARD, La.—Trelleborg Offshore and Construction plans to purchase Maritime International Inc. to strengthen its presence in the berthing, docking and mooring markets in North America.
Once completed, the addition is expected to reinforce Trelleborg's position globally, a company official said.
A business unit of Stockholm-headquartered Trelleborg A.B., the offshore and construction operation's acquisition is part of Trelleborg's strategy to strengthen its position in attractive market segments, it said.
Maritime International produces rubber marine fender systems and is based in Broussard, where it operates a 65,000-sq.-ft. headquarters, manufacturing and testing facility.
It uses about 50,000 square feet of its operation for production, the official said. The company has annual sales in the range of $25 million annually.
It manufactures rubber marine, cone, cell, arch, profile, vessel and other fenders. The company also produces mooring bollards, navel surface and subsurface fender systems.
Financial details on the transaction were not disclosed. The deal is expected to be finalized in the fourth quarter.
Calling it a well run business with a strong market reputation, Fredrik Meuller, president of Trelleborg Offshore and Construction, said the purchase of Maritime International will expand the firm's offshore and construction operation's presence in North America “and obtain access not only to enlarged local production capabilities and offerings but also to solid engineering and testing expertise.”
Trelleborg and Maritime International share the same values in regards to quality, safety and technology, which is essential as it continues to focus on building the firm's engineered polymer solutions with high technology and knowledge content, he said.
“The fender market outlook in the North American region brings strong growth opportunities, especially as increasing vessel sizes necessitate port facility upgrades,” Meuller said.
Trelleborg's marine operation in the U.S. has been growing steadily the last two years, the Trelleborg official said. To help support that growth, it bolstered its base in May when it completed construction of a new headquarters and production plant in Berryville, Va.
Spanning about 45,000 square feet, it manufactures urethane foam-based fenders and buoys in a production area of about 36,000 square feet.
The Berryville complex replaces a building in Clear Brook, Va. That site has been closed.