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30th August 2017, Zurich

Gurit reports strategic progress

In Composite Materials, sales to the wind energy market dropped by 3.0% to CHF 69.1 million in the first six months of 2017. Gurit has reported net sales of CHF 175.2 million for the first six months of 2017, a slight decrease over the previous year. Operating profit amounted to CHF 21 million and the operating profit margin reached 12% of net sales for the first half-year 2017.

Gurit made good progress in strategy implementation. The acquisition of PH Windsolutions, the foundation of a balsa wood joint-venture in Indonesia and the integration of the acquired PET business into the company`s Composite Materials business represent the key achievements in the first half-year 2017.

Sales-wise, Gurit says it met mixed market conditions across its target industries which led to a temporary dip in sales. However, the company was able to further increase its operating profitability by 11% year-on-year.

Read the full article on our Inside Composites website

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