Glen Raven, Burlington, N.C., reports it has reached an agreement to sell its Strata geosynthetics products and related construction business to India-based Hella Infra Market Pvt. Ltd. “This move enables us to focus on expanding our leadership in Glen Raven’s core markets and extending our brand into new spaces,” said Glen Raven CEO Leib Oehmig.
Glen Raven acquired Strata in 2007 as part of a larger acquisition and worked to expand its global presence with partner Strata Geosystems India Pvt. Ltd. The sale is not expected to impact any jobs at Strata and the company’s global operations should continue without interruption. Financial terms of the agreement were not disclosed.
“We are proud of the tremendous success of Strata as part of Glen Raven and the work of the outstanding team that supports the business,”said Oehmig. “Aligning the business with a construction-centric organization positions Strata and its associates for continued growth and success.”