"With Scott Bader’s objective of establishing a long-term presence in the Australian composites market and the founders desire to retire from the business, the natural next step was for Scott Bader to acquire the assets of the company and continue to build Summit’s reputation for product quality, performance and reliability," Scott Bader said in a media release.
"Over recent months Scott Bader have been working extremely closely with Summit Composites, doing all the preparatory work required for an acquisition of this nature. Members of the existing Summit Composites team have accepted new jobs in Scott Bader Australia Pty Ltd which we hope will lead to a seamless transition for our customers and the continued smooth running of day-to-day business," the release added.
“We are delighted to be able to continue to build on the strong market position developed over many years by Summit Composites. We are looking forward to serving our highly valued customers and cementing a long-term sustainable presence in the Australian composites market,” said Scott Bader's group chief executive officer Kevin Matthews.
Fibre2Fashion News Desk (RKS)