Garware Technical Fibres invests in UK subsidiary for acquisition

Garware Technical Fibres Limited announced an investment of GBP 93,94,444 in Garware Technical Fibres UK Pvt. Ltd. (GTF UK) through the subscription of 93,94,444 equity shares priced at GBP 1.00 each. This investment is earmarked for GTF UK's acquisition of 100% of Offshore and Trawl Supply AS and Advanced Mooring Supply AS, both Norwegian companies. GTF UK, incorporated in March 2025, is a wholly-owned subsidiary, and this transaction falls within the purview of related-party transactions, conducted at arm's length. The acquisition is expected to complete by July 31, 2025, positioning GTF UK and its subsequent acquisitions within the technical textiles industry.