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20th December 2018, Zurich

Gurit to restructure Composite Components business

Gurit supplies global growth markets with composite tooling equipment, core material wind turbine blade kits, among others.Gurit, specialised on the development and manufacture of advanced composite materials, has announced a revaluation of its operating profit potential for fiscal year 2018. Operating profit margin for the full year 2018 is now expected to come in at 6.5-7.5% of net sales.

“Based on the recent business performance with continued losses in the Composite Components business, the company revises its operating profit guidance down from the previously communicated mid-level of the 8-10% target range to an expected 6.5-7.5% operating profit margin range for the full year 2018. This is caused by higher losses and restructuring expenses in Composite Components compared to what was expected at half year 2018,” the company explains.

Read the full article on our Inside Composites website

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