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7th December 2016, Zurich

Gurit acquires BASF’s PET business

Composites group Gurit has announced that it has acquired BASF`s PET structural foam business for an undisclosed purchase price. The transaction comprises BASF`s PET operations in Italy, including its staff, operating assets and product IP in the form of an asset deal.

The acquisition is expected to strengthen Gurit`s structural core material product range and add a sizeable European-based PET production capacity to the Company`s existing PET operations in China. The Kerdyn product brand will reinforce Gurit`s PET product offering to the wind, marine, transport and construction industry. Additionally, Gurit will gain significant extrusion process technology and product innovation know-how.

Composites group Gurit has announced that it has acquired BASF`s PET structural foam business for an undisclosed purchase price. The transaction comprises BASF`s PET operations in Italy, including its staff, operating assets and product IP in the form of an asset deal.

Located in Volpiano, Italy, the BASF PET business generated a low single digit million Swiss Francs turnover in 2016. Gurit intends to integrate and further develop the new PET operations as part of its Composite Materials business unit.

"We would like to welcome the BASF team in Volpiano to Gurit and look forward to dynamically developing the site and business together," says Rudolf Hadorn, CEO of Gurit.

The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized in 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.

www.gurit.com

 

 

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