As communicated on December 19, 2018, Gurit decided to divest its Composite Components Business. Despite professionally executed divestment efforts no suitable buyer could be found. Therefore, Gurit decided now to close the plant mid-2020 under its own Management.
Gurit will make every effort to assist the affected staff and will provide separation support at the point of the plant closing mid-2020. Gurit is in contact with the customers to re-assign the residual production orders to other suppliers.
The operational performance of the site has meanwhile significantly improved in recent months. Shut-down cost is estimated at a low single digit million amount affecting the years 2019 and 2020.