Gurit Reports Successful Closing of JSB Group Acquisition
Zurich, Switzerland, October 15, 2018–Gurit (SIX Swiss Exchange: GUR) today announces successful closing of the acquisition of all shares in JSB Group for an equity value of DKK 520 million, as reported on October 1st, 2018.
JSB Group is the market leader for core material kits for wind turbine blades. Headquartered in Denmark, JSB Group employs some 560 employees and expects to generate an annual turnover of around CHF 120 million in 2018.
With the conclusion of the transaction, the JSB business will be set up as a new Gurit business unit for kitting solutions. The established and trusted name JSB will be retained as a product brand.
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 fibre 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 U.K., Poland, Canada, the U.S.A., Ecuador, New Zealand, India and China. For more information, please visit www.gurit.com
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To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.