North empire expands South
Future Fibres has been acquired by Southern Spars, part of the North Technology Group. And, in a sector fuelled by technological competition this symbiosis could produce a winning formula, as Southern Spars' CEO, Richard Lott explained in an exclusive exchange with SuperyachtNews.com.…
"Future Fibres has long been an innovator in the field of advanced fibre rigging," said Tom Whidden, CEO of North Technology Group. "With NTG's support, Southern Spars now has the resources to provide our customers with a wider range of advanced rigging options. Future Fibres has been built on three main brand values: performance, innovation and dedication. We see the same values within the companies that form North Technology Group. This made acquiring Future Fibres a natural fit."
In an exclusive exchange with SuperyachtNews.com, Southern Spars’ CEO Richard Lott said that, despite the acquisition, Future Fibres would continue to operate under its own banner.
Furthermore, as far as integrating the companies’ logistics, “Southern is very used to operating in various locations around the world with the communication speed that requires”, Lott clarified. “Many of our plants supply sub-assembly for other plants and vice versa, so that path is also well embedded. We see it as a great opportunity to provide enhanced application-specific products to our customers.”
He added that the Volvo Ocean Race fleet is actually a working example of how the new operation will function in practice. In that instance the cost of servicing the cables both companies provide will be reduced by running servicing through one team.
"Future Fibres' DNA is technology based and customer friendly," explained founder Tom Hutchinson. "The ability to continue to innovate with North Technology Group is something that will allow my original dream to prosper. I very much look forward to working with all at Southern Spars and all of NTG."
This ‘dream’ has recently manifested itself in an industry-lauded load monitoring system for Perini Navi’s Perseus3, and the company has also made progress in the realm of mast mould production.
Profile links
NEW: Sign up for SuperyachtNewsweek!
Get the latest weekly news, in-depth reports, intelligence, and strategic insights, delivered directly from The Superyacht Group's editors and market analysts.
Stay at the forefront of the superyacht industry with SuperyachtNewsweek
Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.
NEW: Sign up for
SuperyachtNewsweek!
Get the latest weekly news, in-depth reports, intelligence, and strategic insights, delivered directly from The Superyacht Group's editors and market analysts.
Stay at the forefront of the superyacht industry with SuperyachtNewsweek