Gurit divests Winter Sports business
By IBI Magazine
Swiss composites specialist Gurit has sold its Winter Sports material business, Gurit (Vreden) GmbH, to Austrian plastics group CPS. The sale is effective retroactively as of July 1, 2008 and also includes the sale of its running base equipment, which was formerly based in Switzerland. Together, these activities are said to be worth just over CHF 10 million in annual sales.
"With its clear strategic focus on winter sports materials, CPS is the ideal new corporate home for our 30 colleagues at Vreden, our long-standing customer relations and the well-known sintered P-Tex running base materials for skis and snowboards," says Guit CEO Rudolf Hadorn.
Founded in 1835, Gurit manufactures high-end composite materials including structural foam, gel coats and resins for the wind energy, transportation and marine markets. The company has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Denmark, Australia, New Zealand, the US, India and China.
(25 July 2008)
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