Gurit signs further core material supply contract with Chinese OEM

Gurit signs further core material supply contract with Chinese OEM

Zurich, December 18, 2019 - Gurit (SIX Swiss Exchange: GUR) announces a supply contract for core materials which has been secured with a Chinese wind turbine blade producer supplying international and domestic OEMs.

The three-year contract covers the years 2020 - 2022 and is a continuation of an existing business relation for the supply of core materials. It is expected to deliver Net Sales of CHF 25 million over the contract period, half of which will be for PET core material.

"This is another milestone of achieving a long-term supply agreement with a leading blade producer in China, the world's largest Wind Energy market." states Rudolf Hadorn, CEO of Gurit.

As communicated earlier, Gurit will increase its PET extrusion capacities in 2020 at the existing extrusion sites in Tianjin, China as well as in Matamoros, Mexico.

About Gurit:

The subsidiaries 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, core material wind turbine blade kits, structural engineering and select finished parts on the other. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Hungary, Indonesia, India, Italy, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.

www.gurit.com

Gurit Group Communications

Thomas Nauer
Phone: [phone]
E-mail. thomas.nauer (at) gurit.com

All trademarks used or mentioned in this release are protected by law.

Forward-looking statements:

To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time ofpublication 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.

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