Gurit Wins Car Body Panel Contract
Zurich, Switzerland, October 16, 2017 – Gurit (SIX Swiss Exchange: GUR), a worldwide leading developer and manufacturer of advanced composite materials, components and technologies, today announced that it has won a contract for the production and supply of carbon fibre-based exterior car body panels from an Italian premium automotive OEM.
Total value of the new five-year contract is at around CHF 8.5 million, series production for the project is scheduled to start in 2019.
As part of the contract, Gurit will supply carbon fibre-based exterior body panels to achieve best-in-class weight and surface performance for the high end performance car it will be fit to. The parts will be manufactured with Gurit`s patented press technology at the Company`s volume manufacturing site in Hungary.
The newly won contract increases order intake for exterior car body panels in 2017 to a total value of CHF 29 million.
"This contract confirms that the Gurit lightweight component manufacturing industrialization and recent material developments match quality standards and OEM demand goals," says Rudolf Hadorn.
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, Australia, 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