Gurit sells Aerospace business to Isovolta

Gurit Holdings AG (Zurich, Switzerland) has declared the sale of its Aerospace business to Isovolta Team (Niederösterreich, Austria), a maker of composites. The signing and closing of the transaction took area concurrently and grow to be successful as of April 13, 2022.

The divestment of the Aerospace small business is in line with Gurit’s system to concentrate its pursuits on the wind, marine and industrial markets, which the company intends to strengthen even further.

“We are happy that we have uncovered a new proprietor that offers our Aerospace small business the ongoing chance of further progress and strategic enhancement,” Gurit CEO Mitja Schulz states. “We are convinced that the sale to Isovolta is an excellent alternative for each our aerospace workforce and clients.”

The aerospace prepreg manufacturing site in Kassel, Germany, employs 80 staff members customers. A transitional assistance agreement will help a smooth handover in between the two companies.

Isovolta Group is an global company of electrical insulating elements, technical laminates and composites, with a strong concentration on plane interiors. The Austrian business employs a team of about 1,500 and has production web sites, among other people, in Austria and the U.S.

Considering this transaction, Gurit now expects its 2022 profits to be all-around CHF 410-450 million and an functioning financial gain margin between 5.5% and 8.%. The firm will provide far more information on the monetary effect of this transaction in its half-calendar year success.