Gurit Wins Three-Year Balsa Wood Supply Contract
Zurich, April 6, 2018 – Gurit (SIX Swiss Exchange: GUR) today announced that it has been awarded a three-year balsa wood supply contract by a major global wind turbine OEM.
Total value of the signed contract is CHF 64 million over the contract period. Supply volumes and contract value might increase during the contract term, dependent on the OEM`s demand situation.
“We are very pleased that we have been chosen as a long-term, strategic partner by this OEM. The contracted volume provides our balsa wood business with additional growth opportunity over the next three years and is a clear sign of the high quality of our product,” says Sergio Sesa, General Manager Gurit Balsa.
The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized on the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fibre reinforced prepregs, structural core products, gel coats, adhesives, resins and consumables. Gurit supplies global growth markets with composite materials on the one hand and composite tooling equipment, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Germany, Hungary, Italy, Spain, the Netherlands, the U.K., Poland, Canada, the U.S.A., Ecuador, New Zealand, India and China. For more information, please visit www.gurit.com
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To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.