Gurit has acquired BASF`s PET structural foam business for an undisclosed purchase price. The transaction comprises BASF`s PET operations in Italy, including its staff, operating assets and product IP in the form of an asset deal.
This acquisition will strengthen Gurit`s structural core material product range and add European-based PET production capacity to the company`s existing PET operations in China. The Kerdyn product brand will reinforce Gurit`s PET product offering to the wind, marine, transport and construction industry. Located in Volpiano, Italy, the BASF PET business generated a low single digit million Swiss Francs turnover in 2016. Gurit intends to integrate and further develop the new PET operations as part of its Composite Materials business unit