Gurit Holding AG companies had a strong first half-year from both an operational and marketing point of view.
Sales during the first six months rose by 21 per cent to CHF 188 million. Compared with the same period last year operating profit put on an over-proportionately high 75 percentage increase to stand at CHF 14.5 million. The improvement was due both to higher sales and greater operative efficiency. Gurit reported significant increases in its wind power supply business. Expansion of the production facility in Canada means that in addition to its position in Europe, Gurit has strengthened its position in the important wind energy. By 2020, China intends to double the share of energy it obtains from renewable sources from its current 7 per cent to 15 per cent. In view of the country’s escalating energy consumption, this will involve a massive increase in the number of wind power plants. However, China requires 70 per cent of the parts for its wind power farms to be manufactured locally. All major wind turbine manufacturers are currently installing production capacity in China. Gurit is therefore also planning to build a production facility in Tianjin, in the direct vicinity of some major wind power customers. Initially, the new Gurit factory will be equipped to manufacture prepregs for the wind power industry and process structural foams. Gurit expects a total investment of over CHF 20 million, staggered between 2007 and 2008.