WireCo WorldGroup Completes Royal Lankhorst Euronete Acquisition
WireCo WorldGroup Inc. (WireCo), global leader in producing and marketing of wire rope, electromechanical cable and a major producer of wire products announced today that it has completed the acquisition of Koninklijke (Royal) Lankhorst Euronete Group B.V. (“Lankhorst/Euronete”).
Lankhorst/Euronete holds a leading position in international markets for synthetic ropes, industrial yarns, netting, yachting products and recycled plastic products. In particular, 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.
Headquartered in the Netherlands, Lankhorst/Euronete employs over 1,300 people worldwide and operates manufacturing facilities in Portugal, Brazil and the Netherlands. Under the leadership of Jose Gramaxo, Lankhorst/Euronete has focused on building key businesses through innovation and targeted marketing efforts. As a combined organization, WireCo will now have industry leading capabilities in the engineering, design, and production of steel wire ropes and synthetic ropes.