Gurit to support Indian Wind Energy Industry with major investments
Zurich, July 24, 2020 – Gurit (SIX Swiss Exchange: GUR) announces a major investment plan of over CHF 20 million to support the Indian Wind Energy Industry
In order to participate in the growing Indian Wind Energy market needs for rotor blades for domestic use and export, Gurit has decided to establish a significant manufacturing presence to begin in 2020 through 2022. Gurit is setting up a core material kitting facility in the north Indian Gujarat region which will go on line early 2021. During 2021, completing in 2022, Gurit will establish a large production site in the south Indian region of Tamil Nadu where it will set-up a Tooling operation for blade moulds and accessories, a core material extrusion operation for PET core material and a second kitting plant in one integrated campus. For more than a decade Gurit has been serving the Indian subcontinent out of its sales office in Pune which is also the homebase of its strong tooling installation and service field force for India.
“With global Wind Turbine Generator OEMs’ confirming their strong local and export order books in India, which combined represent almost 10% of annual global demand, Gurit is taking a major investment step to support our customers’ mission with localized manufacturing which will create proximity, supply flexibility and provide a much increased level of competitiveness” states Rudolf Hadorn, CEO Gurit.
The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized on 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, formulated products such as adhesives, resins 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 Australia, Canada, China, Denmark, Ecuador, Germany, Indonesia, India, Italy, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.
Gurit Group Communications
Phone: +41 44 316 15 50
E-mail. thomas.nauer (at) 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 ofpublication 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.