Gurit (SIX Swiss Exchange: GUR), a worldwide leading developer and manufacturer of advanced composite materials, components and technologies, today announced that it has signed an agreement to form a joint venture for balsa wood production in Java, Indonesia.
Under the terms of the agreement, Gurit will hold 55% and Mr. Setiyo Budi Nugroho will hold 45% of the shares in the newly founded company PT Gurit Parta Balsa, a manufacturer of balsa wood blocks based in Probolinggo, Java, Republic of Indonesia.
The joint venture foresees an exclusive supply agreement of balsa material from the plantations managed and owned
Under the terms of the agreement, Gurit will hold 55% and Mr. Setiyo Budi Nugroho will hold 45% of the shares in the newly founded company PT Gurit Parta Balsa, a manufacturer of balsa wood blocks based in Probolinggo, Java, Republic of Indonesia.
The joint venture foresees an exclusive supply agreement of balsa material from the plantations managed and owned
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