Swiss composites specialist Gurit (Wattwil; www.gurit.com) has acquired the PET structural foam business of BASF (Ludwigshafen / Germany; www.basf.com) for an undisclosed price. The transaction comprises BASF’s PET operations in Italy, including its employees, operating assets and product intellectual property. Gurit said the deal will strengthen its material product range and add a sizeable European-based PET production capacity to its existing PET operations in China. The acquired “Kerdyn” brand will reinforce Gurit’s product range for applications in the wind, marine, transport and construction industries.

Located in Volpiano / Italy, the business generated a low single-digit million CHF turnover in 2016. Gurit intends to integrate and further develop the business as part of its composite materials business unit.

Rudolf Hadorn, Gurit CEO, said, “We would like to welcome the BASF team in Volpiano to Gurit and look forward to dynamically developing the site and business together.”