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Decline in Structural Foam Sales Sees Gurit Reduce Workforce

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Gurit, a leading developer and manufacturer of advanced composite materials, introduces measures to temporarily adjust the workforce in its Canadian structural foam production. The order intake now indicates a delay of some three to four weeks, corresponding to the announced slow down at several Marine customers. In addition, requested shipments of expanded structural foam products have been postponed at one Wind Energy customer.

Gurit (Canada), Magog, will thus close the production of unexpanded foam blocks between Christmas and New Year and temporarily lay some 60 people off in this production unit, starting from December 6, 2008. Gurit does currently not expect that the structural foam sales will permanently be adversely affected in 2009.

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