Gurit sells Aerospace business to Isovolta

Gurit Holdings AG (Zurich, Switzerland) has announced the sale of its Aerospace enterprise to Isovolta Group (Niederösterreich, Austria), a company of composites. The signing and closing of the transaction took spot concurrently and become helpful as of April 13, 2022.

The divestment of the Aerospace company is in line with Gurit’s method to concentration its functions on the wind, marine and industrial markets, which the company intends to reinforce further.

“We are happy that we have discovered a new proprietor that provides our Aerospace organization the continued opportunity of additional advancement and strategic enhancement,” Gurit CEO Mitja Schulz states. “We are persuaded that the sale to Isovolta is an exceptional alternative for both our aerospace workers and customers.”

The aerospace prepreg production site in Kassel, Germany, employs 80 personnel members. A transitional guidance agreement will allow a easy handover amongst the two corporations.

Isovolta Group is an global maker of electrical insulating components, complex laminates and composites, with a sturdy focus on aircraft interiors. The Austrian enterprise employs a staff members of about 1,500 and has generation web pages, amongst other individuals, in Austria and the U.S.

Considering this transaction, Gurit now expects its 2022 income to be all around CHF 410-450 million and an operating gain margin in between 5.5% and 8.%. The corporation will give much more details on the economic effect of this transaction in its 50 %-calendar year outcomes.