Global marine and fire safety equipment manufacturer Viking Life-Saving Equipment A/S has agreed to acquire Hygrapha GmbH & Co. The move sees the two former competitors joining forces to strengthen capabilities, with a strong strategic presence in Germany, where the deal will be a significant win for shipowners looking for global safety solutions.
Viking CEO Henrik Uhd Christensen said,“I see this move as the perfect match of two highly complementary players in the maritime industry. Viking with its manufacturing base and unique global safety network, and Hygrapha with its in-depth knowledge of safety products and strong presence in Asia and especially in the German market. Working together expands our network and competencies, and is another step in our strategy to be the one-stop shop for maritime safety needs.”
With an annual turnover in excess of $20.8m and some 35 employees globally, Hygrapha has grown to become one of the largest independent trading suppliers of safety products to the maritime industry. Hygrapha officially became part of the Viking Life-Saving Group on October 1, 2010.