"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.