Gurit sells Automotive Business to Carbopress

Gurit (SIX Swiss Exchange: GUR) announces the sale of the full equity in Gurit Hungary Kft to Carbopress S.p.A., an Italian based advanced composite parts manufacturer.

On October 29th, 2019 Gurit announced to close the automotive business in summer 2020 following a divestment process which did not result in a transaction. Subsequently, Carbopress expressed interest in acquiring the business which lead ultimately to the sale.

The signing and closing of the transaction occurred concurrently. The parties have agreed silence over the selling price. Gurit Hungary employs 144 staff members. The transaction is P&L and cash neutral to Gurit.

Gurit CEO Rudolf Hadorn states: “It is positive that we could find a solution for the employees and the customers”.

Carbopress S.p.A. is an advanced composites manufacturing company with global activities, especially in the automotive industry.

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