Gurit: Closing of chinese PVC Production Site

Gurit recently announced the successful closing of the divestment of all shares in the Company`s PVC production site in Qingdao, China.

Gurit has decided to focus the core materials manufacturing in the Asia-Pacific region on SAN, PET and balsa wood at its existing production facility in Tianjin, China.

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Following this decision, Gurit has disclosed the signing of an agreement to sell all shares in Gurit’s PVC production company in Qingdao, China to Zhengyu Sunshine Industrial Co. Ltd. for an undisclosed purchase price on August 3rd, 2018.

Gurit announced the successful closing of this transaction with the buyer.

The financial results of this divestment will be disclosed as part of the annual report 2018 of Gurit.

About Gurit
The companies of Gurit Holding AG, Wattwil/Switzerland, 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, core material wind turbine blade kits, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Denmark, Germany, Hungary, Italy, Poland, Spain, the U.K., Turkey, Canada, the U.S.A., Ecuador, New Zealand, India and China.

More information: www.gurit.com

Gurit Holding AG, Zurich, Switzerland