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23rd April 2019, Italy

Gurit acquires Italian PET recycler

Gurit says it will continue to invest significantly in recycled PET core material production assets globally for wind and non-wind industry customers to cope with demand for the the material. Gurit’s newly-formed company, Gurit Italy PET Recycling Srl, is to acquire the PET recycling production facilities of Valplastic in Italy for an undisclosed purchase price, with closing of the transaction expected at the end of May 2019.

Gurit says it will continue to invest significantly in recycled PET core material production assets globally for wind and non-wind industry customers to cope with demand for the the material. In order to guarantee sufficient feedstocks of quality-controlled and properly blended PET for the extrusion process, Gurit needs to have good access to this part of the value chain.

Valplastic is specialised in the recycling of PET bottles and the production of recycled PET flakes and granules which are later used for extrusion of recycled PET core. The transaction will allow Gurit to secure quality and cost effective raw material supplies for its PET strategy and to link the value chain elements starting from the recycled bottle down to a finished quality core kit for the wind blade making OEMs.

Gurit is acquiring Valplastic’s production equipment, working capital and its current staff of approximately 30 employees based in Carmignano di Brenta, Padova, Italy. It will not acquire the Valplastic brand.

“With this transaction Gurit can connect the value chain from purchased recycled bottles out of the collection network down to a precision core kit for the global wind OEMs,” ” said Rudolf Hadorn, CEO of the Gurit Group. “It allows us to secure feedstock, quality of product through content control and strong cost competitiveness.”

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