- 13 November 2006 -
Gurit smashes sales forecast

WITH SALES of CHF280 million at the end of September, composite material producer Gurit has exceeded its forecast. The company is now expecting to smash its sales targets of CHF365 million by the end of the year. 

The higher-than-predicted sales figures can largely be attributed to shipments made to the wind energy industry totalling CHF134 million. Growth is expected to continue in this sector with the establishment of a sales subsidiary in India to support the expanding market in that region.

There were increases in sales to the marine, sport and civil engineering markets, with sales of CHF93 million in the nine-month period. Sales in the transportation market remained stable at CHF46 million up to 30 September. Gurit expects growth in the aerospace market to be marginal as a result of the production delays on the Airbus A380.

A price rise has been necessary because of the increase in raw material costs, Gurit says. The company has yet to see the impact the price rises will have on its earnings before interest and tax (EBIT) for the year, which it targets at CHF27 million.

The company has also announced that its subsidiary Structural Polymer Group Ltd has sued Zoltek Corp for breach of a ten-year exclusive requirements contract, entered into in 2000. Zoltek was contracted to supply large filament count carbon fibres but Gurit claims that Zoltek repeatedly failed to meet its requirements.

Gurit; www.gurit.com

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