Saint Paul/Minneapolis, Minnesota (April 18, 2012) – PaR Systems, Inc. announces the purchase of Marine Systems Technology Ltd., a leading expert in lightweight composites, fire protection and composite engineering, and affiliated company MST Engineering Ltd., designers and manufacturers of marine doors, panels, hatches, scuttles, and other products. Both companies are located in Winsford, United Kingdom. Marine Systems Technology (MST) invented the patented composite technology COMFIRE®, which provides a major advance in passive fire protection at the highest level on military and commercial ships. MST was recently the first company ever to qualify a door to exacting US Navy fire boundary specifications.
The new business will be part of the PaR Marine group with headquarters in Brunswick, Georgia. PaR Marine has a long legacy of providing engineered equipment and systems for defense, commercial, and industrial applications. PaR Marine focuses on providing marine customers with specialty equipment, cargo handling systems, and deck machinery while combining its strong engineering with comprehensive heavy fabrication capabilities.
"The addition of Marine Systems Technology into the PaR family is an ideal fit to allow us to continue to grow our presence in the international marine market, and also provides the platform for further expansion of PaR's growth in Europe across all its sectors," states Ian Haley, President of PaR Marine. "COMFIRE products will serve as a catalyst to expand in a number of market segments in which PaR Marine is interested; UK navy, submarines, cruise and other commercial ships, and offshore oil platforms. Also, the MST organization shares the same deep values that PaR holds, in particular the focus on providing the client with the best quality and reliable specialty engineered product," said Ian.
Over the last 10 years a group of composite technologists, engineers, and designers have worked together at Marine Systems Technology to develop ground-breaking products which combine the materials technology of COMFIRE. These products have low weight, and world leading fire resistance and sound attenuation qualities, particularly in marine environments. The range of products includes fire doors, watertight fire doors, level access door systems, bulkheads, and non-combustible case goods for applications throughout the entire interior of today's naval ships, offshore vessels, cruise ships, and fast ferries. COMFIRE complies with the most stringent marine safety guidelines while offering many practical advantages to the ship designer.
COMFIRE is non-combustible and stable in fire, with no smoke or toxicity, and offers excellent thermal and sound insulation properties. COMFIRE is intended for use where SOLAS (Safety of Life at Sea) and other marine regulations require non-combustible fabrications within ships.
PaR Systems, a portfolio company of MML Capital Partners (www.mmlcapital.com), is a world leader in providing advanced engineered equipment, systems, and services for critical material handling and automation applications to improve customer quality, safety, and productivity. Since 1961, PaR has created custom-engineered, and often times, first-of-a-kind manufacturing solutions for a broad range of industries including aerospace, defense/marine, hazardous material/nuclear, heavy material handling, industrial manufacturing, and life sciences. PaR Systems is headquartered in Minnesota, with global engineering and manufacturing centers of excellence. For more information on PaR Systems, visit www.par.com.