Survitec Group is a leading provider of critical safety & survival solutions to the marine and defence markets.
The transaction includes the transfer of all WMS’ safety related systems, products, services and competence to Survitec. Once integrated, the combined business will operate under the name ‘Survitec Group’.
WMS will hold a 20 percent stake in Survitec Group and will have a seat on the board.
As a result of the merger, Maritime Protection AS is now a fully owned subsidiary of Survitec. Maritime Protection AS has more than 45 years of experience in neutral gas facilities for the maritime and offshore industries worldwide.
“We look forward to cooperating with our new owners. Survitec has more than 160 years experience within safety at sea, and we expect that Survitec’s vast capacity and competence will give us a further boost in the global market”, says General Manager Lars Erik Lunøe in Maritime Protection.
“The combined business will offer a cradle-to-grave safety solutions portfolio for customers worldwide. This is a transformative move for Survitec and we look forward to generating significant value for our customers and other stakeholders.” said Brian Stringer, CEO of Survitec Group.