Gurit acquires PET recycling operation in Italy

Gurit recently reported that its newly formed company Gurit Italy PET Recycling S.r.l. has signed an agreement to acquire the PET recycling production facilities from Valplastic S.r.l. in Italy for an undisclosed purchase price. Closing of the transaction is expected at the end of May 2019 and is subject to customary closing conditions being fulfilled.

Valplastic is specialised in the recycling of PET bottles and the production of PET-flakes and granules later used for extrusion. The transaction will allow Gurit to secure quality and cost effective raw material supplies for its PET strategy.

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As part of the asset purchase agreement, Gurit acquires from the Italian company production equipment, working capital and its current staff of approx. 30 FTEs based in Carmignano di Brenta, Province of Padova, Italy.

Gurit will manage all operations under the Gurit brand name and will not acquire the Valplastic brand.

About Gurit
The subsidiaries 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. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Hungary, Indonesia, India, Italy, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.

More information: www.gurit.com

Gurit Holding AG, Zurich, Switzerland