Gurit Expands its Global Balsa Wood Production Capacity

(WK-intern) – Gurit (SIX Swiss Exchange: GUR) today announced that it will expand its balsa wood production capacity in the first quarter of 2016.

Due to the ongoing global market demand for balsa wood, Gurit has decided to expand its global balsa wood production capacity which currently is working at capacity limits.

The planned increase in output will be achieved by layout optimization at the Company`s existing production facility in Ecuador and through an investment into a new balsa wood production operation within its existing core material factory in Tianjin, China. The investment will be realized in the first quarter of 2016 and will increase technical capacity by 35 percent, overall.

Balsa wood production in Tianjin is scheduled to start at the beginning of April 2016, utilizing the Company`s proven equipment, design, and manufacturing technology under the guidance of the established Chinese operations teams.

The new Chinese presence of balsa wood manufacturing will provide more customer proximity and flexibility for the Company`s Asian customer base.

Sergio Sesa, General Manager of Gurit Balsa, comments: “This capacity expansion intends to provide an answer to the market in terms of volume availability, readiness and the Company`s unique positioning through its wide core material offering.”

About Gurit:
The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized on the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fiber reinforced prepregs, structural core products, gel coats, adhesives, resins and consumables. Gurit supplies global growth markets with composite materials on the one hand and composite tooling equipment, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Germany, Hungary Italy, Spain, the UK, Canada, the USA, Brazil, Ecuador, Australia, New Zealand, India and China. For more information, please visit www.gurit.com or sign-up for email alerts at http://investors.gurit.com/news-alert-subscription.aspx

PM: Gurit