VIKING Acquires Hygrapha
VIKING Life-Saving Equipment has raised the competitive stakes in maritime safety by announcing a deal to acquire world leading independent trading company Hygrapha GmbH & Co. The move sees the two former competitors joining forces to strengthen capabilities, with a strong strategic presence in Germany, where the deal will be a significant win for shipowners looking for global safety solutions.
VIKING CEO Henrik Uhd Christensen (image) welcomes Hygrapha to the VIKING Group and believes the acquisition will have a profound effect on VIKING’s maritime safety solutions. “I see this move as the perfect match of two highly complementary players in the maritime industry. VIKING with its manufacturing base and unique global safety network, and Hygrapha with its in-depth knowledge of safety products and strong presence in Asia and especially in the German market. Working together expands our network and competencies, and is another step in our strategy to be the one-stop shop for maritime safety needs.”
Christensen also emphasises the importance of the acquisition for VIKING’s overriding objective: “Saving and protecting human lives all over the world – our mission in life – quite literally requires us to constantly increase our global presence to be closer to our customers and to provide the broadest range of quality safety products and services. The better we are at this, the more benefit we can bring.”
Hygrapha officially became part of the VIKING Life-Saving Group on October 1, 2010. With an annual turnover in excess of EUR 15 million and some 35 employees globally, Hygrapha has grown to become one of the largest independent trading suppliers of safety products to the maritime industry. Hygrapha’s president, Rüdiger Steinbach, is equally excited by the agreement. “Both Hygrapha and VIKING are widely recognised as leaders in safety equipment. But VIKING’s safety network and global resources are second to none, offering us new opportunities to expand our activities in Hamburg and beyond. I look forward to developing the business together and achieving new levels of growth.” Steinbach will remain in the driver’s seat in the German market, becoming Managing Director for VIKING Germany and contributing Hygrapha’s formidable expertise to expanding the company’s platform for global trade activities.