Kitting supply agreement with Chinese blade manufacturer
Zurich, Switzerland, April 17, 2020 – Gurit (SIX Swiss Exchange: GUR) announces a two-year supply agreement with one of the leading Chinese blade manufacturers. The agreement entails engineering and supply of Core Material Kits for a strategically important project to the customer for the years 2020 and 2021 and is expected to deliver Net Sales of CHF 13-16 million over the contract period.
“We have set a strategic ambition of getting a foothold in the Chinese domestic market and this deal proves that our business model and engineering capabilities are a match for the Chinese market. We will continue to find smart and flexible solutions to serve the Chinese Domestic market.” says James Mei, Head of China Domestic Sales of Gurit’s Kitting business unit.
The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) specialize in the development and manufacture of advanced composite materials, composite tooling equipment and core kitting services. The product range comprises structural core materials, fibre reinforced prepregs, wind blade moulds, formulated products including coatings, resins and adhesives as well as structural composite engineering. Gurit supplies global growth markets such as the wind turbine industry, aerospace, marine, rail and many more. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Indonesia, India, Italy, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.
Gurit Group Communications
Thomas Nauer; phone: +41 44 316 15 50; e-mail: thomas.nauer (at) gurit.com
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Forward-looking statements: 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.