Gurit, a world-wide leading developer and manufacturer of advanced composite materials for growth markets in the Wind Energy, Transportation and Marine industries, has divested today its remaining Winter Sport business effective retroactively as per July 1, 2008.
CPS GmbH, Uttendorf/Austria, takes over the sintered plastics specialist Gurit (Vreden) GmbH in its entirety and acquires and relocates some additional running base materials production equipment formerly based in Switzerland. At Gurit, these activities together have amounted to an annual sales volume of just over CHF 10 million.
The winter sports material business is a competitive and consolidating market. With this step, Gurit will transfer its successful and profitable German winter sport activities to an industrial partner who will manage these activities as core business: “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”, commented Rudolf Hadorn, CEO Gurit Holding AG. The parties involved have agreed not to disclose additional financial details of this transaction.
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