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Gurit Reports Closing of PVC Production Site Divestment
Gurit has decided to focus the core materials manufacturing in the Asia-Pacific region on SAN, PET and balsa wood at its existing production facility in Tianjin, China.
Following this decision, Gurit has disclosed the signing of an agreement to sell all shares in Gurit’s PVC production company in Qingdao, China to Zhengyu Sunshine Industrial Co. Ltd. for an undisclosed purchase price on August 3rd, 2018.
Gurit today announces the successful closing of this transaction with the buyer.
The financial results of this divestment will be disclosed as part of the annual report 2018 of Gurit.
To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.
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