Gurit

Gurit intends to stop production at its Zullwil plant in Switzerland in the second half of 2021, affecting around 30 employees. The closure is part of concentrating aerospace activity in Kassel.

Gurit is implementing a multi-year plant renewal and capacity expansion program at its aerospace site in Kassel, Germany, with a high single-digit million CHF investment. The expansion will support global aerospace customers.

Gurit announced a two-year supply contract with a globally leading wind turbine OEM for its JSB Kitting business unit, expected to deliver net sales of CHF 175-200 million, utilizing capacity at its new site in Matamoros, Mexico.

Gurit, through its newly formed company Gurit Italy PET Recycling S.r.l., signed an agreement to acquire the PET recycling production facilities from Valplastic S.r.l. in Italy. The purchase price was not disclosed; closing is expected at the end of May 2019.

Gurit has signed an agreement to acquire all shares in JSB Group, a market leader for core material kits for wind turbine blades, for an equity value of DKK 520 million. Closing is expected by mid-October 2018.

Gurit and Elbe Flugzeugwerke signed a new 3-year framework contract for the development and supply of aerospace materials for Airbus cabin interiors, valued at approximately CHF 25 million.

Gurit has won a five-year contract worth CHF 8.5 million to produce and supply carbon fibre-based exterior car body panels to an Italian premium automotive OEM. Series production is scheduled to start in 2019 at Gurit's volume manufacturing site in Hungary.

Gurit won a two-year contract worth around CHF 9 million to supply carbon fiber-based exterior body panels to an Italian premium automotive OEM. Supply is scheduled to start in January 2018, with production at Gurit's Hungarian plant.