Swiss composite parts manufacturer Gurit announced that it has acquired BASF’s PET structural foam business for an undisclosed amount.
This transaction involves BASF’s entire PET operations in Volpiano, Italy, including employees, business assets, products with intellectual property rights, etc. In 2016, PET sales in the region amounted to just a few million francs.
Through this acquisition, Gurit will expand its existing PET operations in China, thereby increasing PET production capacity. In addition, the Kerdyn brand will be added for use in marine, transportation, construction and other related industries.
Rudolf Hadorn, CEO of Gurit, said that the team from BASF is very welcome to cooperate with it to jointly develop business.
Gurit has production facilities in Switzerland, the United Kingdom, Hungary, Spain, the United Kingdom, Poland, Canada, the United States, Brazil, Ecuador, Australia, New Zealand, India and China and offices.
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