FREE MEMBERSHIP

Get your FREE Inside Composite membership

Sign me up!

20th December 2018, Zurich

Gurit to restructure Composite Components business

Gurit, specialised on the development and manufacture of advanced composite materials, has announced a revaluation of its operating profit potential for fiscal year 2018. Operating profit margin for the full year 2018 is now expected to come in at 6.5-7.5% of net sales.

“Based on the recent business performance with continued losses in the Composite Components business, the company revises its operating profit guidance down from the previously communicated mid-level of the 8-10% target range to an expected 6.5-7.5% operating profit margin range for the full year 2018. This is caused by higher losses and restructuring expenses in Composite Components compared to what was expected at half year 2018,” the company explains.

Gurit supplies global growth markets with composite tooling equipment, core material wind turbine blade kits, among others.

“Without the losses in Composite Components, Gurit would have exceeded the margin guidance range of 8-10% in CY 2018 in its continued business.”

Gurit has decided to restructure the Composite Components business and to concentrate the component manufacturing in Hungary in 2019. A divestment process for Composite Components has also been initiated.

The companies of Gurit Holding, based in Wattwil, Switzerland, are specialised 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.

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 Group has production sites and offices in Switzerland, Denmark, Germany, Hungary, Italy, Poland, Spain, the UK, Turkey, Canada, the US, Ecuador, New Zealand, India and China.

www.gurit.com

This article is also appears in...

Comments

Be the first to comment on Gurit to restructure Composite Components business

|

Back to Top