Gurit has divested its aerospace business to Isovolta Group, a manufacturer of composites based in Austria.

According to the company, this sale follows Gurit’s strategy to focus its activities on the wind turbine, marine and Industrial markets. The purchase includes an aerospace prepreg production site in Kassel, Germany which 80 staff members.

Isovolta makes electrical insulating materials, technical laminates and composites, with a strong focus on aircraft interiors. It employs a staff of about 1500 and has production sites in Austria and the US.

Gurit CEO Mitja Schulz states: “We are glad that we have found a new owner that offers our Aerospace business the continued opportunity of further growth and strategic development. We are convinced that the sale to Isovolta is an excellent solution for both our aerospace employees and customers.”

The company now expects its 2022 revenue will be around CHF 410-450 million with an operating profit margin between 5.5% and 8.0%.