Scottish company Industrial Ropes, which supplies wire rope to the energy industry and other markets, is being rebranded as RopeQuip following a restructuring by its ultimate parent.
Montrose-based Industrial Ropes is a subsidiary of RopeQuip Group, of the Netherlands, which is to be part of a shake-up of businesses owned by investment firm Active Capital Company (ACC).
Recent investment by ACC in three companies, Hendrik Veder, RopeQuip and European Rope Services, has prompted the restructuring.
From September 1, all three businesses and their subsidiaries – operating in seven European countries – will form the Hendrik Veder Group. The trading names of Hendrik Veder and RopeQuip, whose Angus subsidiary employs five people, are being retained.