HAVANT marine distress flare firm Chemring Marine has been officially taken over.
The £32m deal has been finalised and now Drew Marine is the new owner of the firm.
Chemring Marine is the world’s leading supplier of marine distress signals and has manufacturing sites in Bremerhaven, Germany and Pamplona, Spain.
The business will continue to be based at the Langstone Technology Park, and will also have offices in Melbourne, Australia.
The firm’s managing director, Justine Heeley, said: ‘Chemring Marine is a specialist in the manufacture and worldwide distribution of marine distress signals in the commercial and leisure market sectors.
‘The acquisition by Drew Marine will help the business to focus on enhancing its support to its global maritime safety network and gives the company a “marine home”.’
Len Gelosa, president and chief executive of Drew Marine, added: ‘We are delighted to welcome Chemring Marine to the company.
‘Like Drew Marine, Chemring Marine is known for supplying the highest quality and the best performing products to the markets we serve.’
Chemring Marine will be renamed Drew Marine Signal and Safety. All Chemring Marine staff at all sites will remain with the company.
Drew Marine’s global headquarters is in Whippany, New Jersey, USA.