Gurit has reported net sales of CHF434.8 million for the first nine months of 2020, an increase of 4.1% compared to the previous year. Net sales of continued business increased by 13% in the third quarter and 10.2% in the first nine months at constant exchange rates, the company said.
The company’s Composite Materials business had net sales of CHF 207.8 million for the first nine months of 2020, an increase of 12.1% or 18.1% at constant rates over the same period in 2019. According to Gurit, demand in the wind energy market continues to be strong across all product groups, while the marine and industrial markets have had weaker sales due to lower yacht building activity following the impact of Covid-19.
Gurit’s Kitting business was CHF174.6 million, compared to CHF127.1 million in the previous year period, an increase of 37.3% in reported Swiss francs and 46.0% at constant exchange rates, while Tooling reported net sales of CHF67.0 million, which represents a decrease of 25.8%. According to the company, this was caused by a shift in the product mix as well as pandemic-related travel restrictions that slow down new installations and continue to cause delays and a few cancellations of customer projects.
The company’s Aerospace business unit reported net sales of CHF 24.2 million for the first nine months of 2020, a decline of -41.5% over the previous year period. ‘The Aerospace business Unit now sees a stabilization at the currently low level of demand, but as yet no signs of recovery in the global passenger aircraft market,’ Gurit said.
This story uses material from Gurit, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.