PORTLAND, Maine — The Augusta-based composites manufacturer Kenway Corp. has purchased the assets of the Brunswick company that made the composite beams used in the $8.8 million replacement of the Union Street bridge in Bangor.
The companies did not disclose the sale price in a joint announcement issued Friday.
Kenway said it will expand its Augusta facility, where it will move the assets it bought from Harbor Technologies and provide manufacturing space for related product lines.
Harbor Technologies will operate as a division of Kenway, led by Erik Grimnes, son of Harbor Technologies’ founder Martin Grimnes.
“We’re now in a great position to increase the amount of composites being used for infrastructure applications around the world,” Erik Grimnes said in a company statement.
The full management team for Harbor Technologies will continue to work for Kenway, out of Brunswick.
Kenway said the acquisition expands its waterfront infrastructure composite products, with customers ranging from the U.S. Coast Guard and departments of transportation to commercial and private waterfront developers.
Harbor Technologies said its shareholders voted to dissolve the company in October, leading to the sale that closed at the end of the month.
Kenway was founded in 1947 and employs about 100 people, according to information provided by the company.