Composites producer sells Qingdao PVC site / Buyer is Chinese firm
Swiss composites specialist Gurit (Wattwil; is selling its PVC production site at Qingdao, Shandong / China to a local producer, Qingdao Zhengyu Sunshine Industrial, for an undisclosed sum. Gurit said the transaction, expected to close in October of this year, will be profit neutral. The west coast site is the Swiss company’s only PVC production activity worldwide. In future, Gurit said it wants to concentrate its Asia-Pacific efforts on its core materials businesses of SAN, PET and balsa wood, which it produces at Tianjin / China.

The sale includes the Qingdao operation, including transfer of employees, PVC operating assets and product intellectual property. Gurit said it will support the new Chinese owner during the transition phase in order to ensure a seamless handover and business continuity. It said Qingdao Zhengyu Sunshine Industrial “has expressed a strong desire” to continue to supply the Swiss producer’s existing customers, and to grow the business further.

Globally, Gurit has production sites and offices in Switzerland, Germany, Hungary, Italy, Spain, the UK, Poland, Canada, the US, Ecuador, New Zealand, India and China. Its range comprises fibre-reinforced prepregs, structural core products, gel coats, adhesives, resins and consumables. Along with composites, it also supplies related tooling equipment, structural engineering and select finished parts.

Qingdao Zhengyu Sunshine Industrial, established in August 2007, has a wide focus, ranging from general transportation, construction and installation, fire engineering, machinery and equipment lease to automotive components production, warehousing and large-scale agricultural market operation. The company has participated in key Chinese infrastructure projects but has not been active in the PVC sector up to now.
10.08.2018 [240366-0]
Published on 10.08.2018
Gurit: Verkauf eines Werks für PVC-Schäume in ChinaGerman version of this article...

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