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Gurit secures two-year kit supply contract with a globally leading Wind OEM

Zurich, July 2, 2019 – Gurit (SIX Swiss Exchange: GUR) announces a two-year supply contract which has been secured with one of the world’s leading Wind Turbine OEM’s for its JSB Kitting business unit. The contract is a continuation of an existing supply agreement and in line with communicated Group sales targets for 2019. It will utilize capacities of the new kitting production site in Matamoros in Mexico, which was just opened recently and will provide room for further organic growth in 2020. The contract contains volume agreements for Europe, Asia and Americas and is expected to deliver Net Sales of CHF 175-200 million over the contract period, dependent on the OEM’s demand situation.

“It is satisfying to have reached the targets that we set out to achieve and bring value and reduced cost levels to our customers. With this two-year contract we expand our production capacity in existing sites as well as secure volume for our new factory in Mexico,” says Frank Nielsen, CEO at JSB (Gurit Kitting).

About Gurit:

The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized on 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. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Hungary, Indonesia, India, Italy, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.

www.gurit.com  

Gurit Group Communications

Thomas Nauer

Phone: +41 44 316 15 55

E-mail: thomas.nauer (at) gurit.com

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Forward-looking statements:

To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.