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Duramax Marine, Hiram, Ohio, recently announced the acquisition of the assets related to the marine bearing, dock fender, and marine bumper business from Morse Rubber, a member of the FLSmidth Group. Neither facilities nor employees were included in the transaction. All tooling, inventory, and equipment related to the marine business will be moved to Duramax Marine facilities in Ohio.
Morse Rubber’s marine business is the second acquisition for Duramax Marine in the marine bearing and impact protection markets. In 1996, Duramax Marine purchased the marine bearing division of B.F. Goodrich, which the company states significantly expanded its market share and product offerings.
Brian Fink, president & CEO of Duramax Marine, said in a statemnt, “We are excited to add the Morse Rubber marine products and customers to our business. We are pleased that we can keep American-made products with a long, proud history in the USA. Our employee-owners look forward to providing excellent quality, service, support, and value to the many Morse customers around the world.”
The acquisition will bring additional products to Duramax's offerings in the commercial marine market. The Morse products include water-lubricated bearings for the marine and industrial markets, extruded rubber fenders, PushNee bumpers, modular fenders, molded buckling and shear fenders, cell fenders, and arch fenders.
The transition is expected to be completed by year-end 2024.
