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Gurit to License Green PET Technology from Armacell
As part of the contract, Gurit will be granted a global license for the patented
ArmaFORM® PET GR technology from Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, until the expiry of the patent rights for an undisclosed license fee.
The ArmaFORM® PET GR foam core technology enables manufacturing of extruded PET foam from 100% recycled (post-consumer) PET materials. The patented technology is widely recognized and supports customers across industries in their endeavor to increase usage of sustainable advanced composite materials across applications.
“The combination of the PET capacity and technology that we have acquired in Volpiano, Italy, at the end of 2016 paired with Gurit`s existing production and the new licensing contract for the Armacell foam technology represents a major step forward in our offering to our global customer base,” said Rudolf Hadorn, CEO of Gurit.
“As the inventors of the ArmaFORM® PET GR technology, we have been able to provide a unique product range to customers across the globe. We are happy to see Gurit utilize our technology thereby increasing Armacell’s contribution to a greener tomorrow” commented Bart Janssen, Vice President Engineered Foams of Armacell.
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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