Gurit invests further in its aerospace prepreg capacities at the German site in Kassel and will close the Zullwil plant, Switzerland in H2 2021
Zurich, 1 October 2019 - Gurit (SIX Swiss Exchange: GUR)
Gurit is in the process of implementing a multi-year plant renewal, manufacturing capacity expansion and technology enhancement program over a high single-digit million amount in Swiss francs at its aerospace site in Kassel. These investments will enable Gurit to offer the global aerospace customers the required quantities of current and future products at competitive terms manufactured with the latest technology.
The Aerospace business unit currently serves its global customer base from two sites in Europe – Kassel, Germany and Zullwil, Switzerland. In order to make the necessary investments effectively and avoid duplication, Gurit intends to concentrate its Aerospace activity in Kassel and stop production at its Zullwil plant in the second half of 2021. From today's perspective, the closing costs at the Zullwil site will amount to a low single-digit million amount in CHF.
Gurit will only relocate production programs from Zullwil to Kassel after the capacity expansion in Kassel has been completed and the new facilities are customer qualified.
By the closure date in 2021, Gurit will be looking for the best possible solutions for the affected workforce of currently around 30 employees in Zullwil.
The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) 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, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.
Gurit Group Communications
Phone: +41 44 316 15 55
E-mail. thomas.nauer (at) gurit.com
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.