Gurit has announced supply contracts for core materials which have been secured with two unnamed wind OEMs for its Composite Materials business unit. The three- respectively four-year contracts are a continuation of existing supply agreements, mainly for PET, and are in line with communicated Group sales targets for 2019.
They will support organic growth in 2020/21 and are expected to deliver Net Sales of CHF 200 million over the respective contract periods. In order to fulfil the contracted and anticipated market demand, Gurit invests in two PET-extruders, in addition to the three existing ones in Italy and China. The first new extruder is scheduled to be commissioned in 2020 at the existing extrusion site in Tianjin, China. The second extruder is also expected to become operational in 2020 at the new Matamoros site in Mexico, where Gurit opened up a Kitting services facility earlier this year.
