Gurit acquires majority share in Fiberline

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Gurit has purchased a 60% share of Fiberline Composites, a manufacturer of pultruded carbon and glass fiber products used in the wind blade production.

Founded in 1979, Fiberline is headquartered in Middelfart, Denmark and operates production sites in Denmark and China and employs around 300 employees. It reached annual net sales of CHF 104 million in 2021 and, according to Gurit, will grow its business dynamically as pultruded carbon components are set to replace traditional glass infused spars in longer wind blades.

The purchase price was CHF 58 million and approximately CHF 22 million of assumed gross debt for the whole company. Gurit says that it has the right to purchase the remaining shares in 2024 -2025, at pre-defined commercial terms. The Fiberline Composites operations will form a new Gurit business unit called Structural Profiles.

"The use of pultrusion in wind turbine manufacturing is increasing rapidly, and the industry needs a strong supply chain," said Fiberline chairman Peter Thorning. "Integrating Fiberline Composites in the Gurit Group will strengthen the ability to serve our customers globally on a large scale, and we are convinced that the companies are stronger together."