Zurich June 6th, 2011. Gurit, a globally leading developer and manufacturer of advanced composite materials and technologies, announces the appointment of Mr. Bing Chen as the new General Manager for the Gurit Tooling Business, effective as of July 1st, 2011. Mr. Chen, a USA National born in 1961, grew up in China and complemented his academic education in material sciences from China with a PhD in Ceramic Science and Engineering in the USA (1994; Alfred University, Alfred, NY/USA.).

His broad commercial experience and background in business administration and factory management, acquired both in China and the USA, will support Bing Chen in managing the global Tooling Business of Gurit. Since the acquisition of Red Maple in December 2009, Gurit has invested strongly in the Tooling plant operations, the project management and succeeded in broadening the business in the global customer base.

As agreed at the time of acquisition, Gabriel Mironov, founder of Red Maple and current General Manager Tooling, will step back from his position which now will happen by June 30, 2011 and will continue to support Tooling as an advisor until the end of 2011. Gurit wishes to thank Gabriel Mironov for all his outstanding contributions for Tooling and welcomes Bing Chen as a new member of the Executive Management Team.

Bing Chen’s professional background (main recent stages)

2009-present	VSG, Rotary Lift Consolidated (Haimen) Co. Ltd., Jiangsu/China; General Manager/Asia Sales Director
2004-2009	Metaldyne (Suzhou) Automotive Components Co. Ltd., General Manager
1999-2004	Philips Nanjing Magnetic Products Co Ltd, China; last as Production Operations Manager
1998-1999	Philips Components, Saugerties, NY/USA; Engineering and Production Manager

For general information on Gurit:
Rudolf Hadorn, Investor Relations, Tel. +41 44 316 1560; Mobile: +41 79 601 61 28
rudolf.hadorn@gurit.com

Sign-up for email alerts is available at http://investors.gurit.com/news-alert-subscription.aspx 

On Gurit: The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialised on the development and manufacture of advanced composite materials and related technologies featuring bespoke physical and chemical characteristics. The comprehensive product range comprises fibre reinforced prepregs, structural core materials, gel coats, adhesives, resins and consumables as well as certain finished parts. Gurit supplies growth markets in Wind Energy, Tooling, Transportation and Marine. The international Group has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Australia, New Zealand, the USA, Ecuador, India and China.