WireCo acquires Lankhorst Euronete

Lankhorst Euronete manufactures synthetic ropes, industrial yarns, netting, yachting products and recycled plastic products. In particular, WireCo says its market position supporting the maritime, fishing and offshore markets provides a strategic fit with existing WireCo product lines. Following the purchase of Phillystran in 2009 and Oliveira in 2010, this acquisition completes the execution of WireCo’s strategy to establish itself as a major market presence in the global synthetics marketplace.

WireCo CEO Ira Glazer commented, “We invested in this acquisition for two key reasons: it places WireCo as a market leader in synthetic ropes matching our position in value-added steel wire ropes and it provides WireCo with the most advanced products and technical expertise globally in synthetics. In addition, this acquisition continues to diversify our business mix by product, geography and end market. We are excited about the possibilities this combination of talent and products can deliver to the market.”

Mr Glazer also said that Mr Gramaxo will join the executive team of WireCo WorldGroup as senior vice president of Global Synthetics and that he believes all WireCo employees will benefit from the acquisition, adding, “We have a track record of investing in what we buy. We will incorporate Lankhorst Euronete into our global operations, which will create opportunities for all our employees to grow, including our new Lankhorst Euronete colleagues.”