Gurit Sells Stake in Transparent Thermoplastics Joint Venture

Gurit, a leading developer and manufacturer of high-end composite materials and technologies, has sold its 50% stake in the joint-venture GuMa to Mazzucchelli. Gurit had established GuMa in 2006 together with the Italian transparent thermoplastic expert Mazzucchelli.

GuMa mainly produces highly transparent celluloses and polycarbonate thermoplastic sheets used in sport goggles and industrial safety applications. Gurit's share of GuMa's annual sales amounted to some CHF 9 million. This transaction will have no significant impact on Gurit's income statement. Gurit will receive a single-digit CHF million sum consisting of a down-payment and appropriately secured instalments staggered over the next few years. Markus Knuesli Amacker, CFO of Gurit, commented: "With the conclusion of this transaction, all our industrial activities are now fully aligned with Gurit's strategic focus on the three target market areas Wind Energy, Transportation and Marine."