Gurit reports that since the beginning of the financial crisis in 2008 and throughout 2009, demand from the marine and wind energy market for its Corecell structural foam products has been fluctuating greatly from quarter to quarter and Gurit subsequently had to adjust its workforce frequently.
As with all previous temporary lay-offs in the Canadian structural foam plant, Gurit believes that these new measures will be temporary. The company says it expects to call the first people back within two months and the majority within six months.
The measures are not expected to cause any restructuring cost. The companies of Gurit Holding AG, Wattwil, Switzerland, (SIX Swiss Exchange: GUR) specialise in the development and manufacture of advanced composite materials and related technologies.
