Switzerland's Gurit wins major core PET China supply contract

15 November 2010 07:10  [Source: ICIS news]

SINGAPORE (ICIS)--Gurit has won its first major contract in China to supply core polyethylene terephthalate (PET) for wind energy applications, the Switzerland-based composite materials maker said on Monday.

The company did not disclose specific financial details or who had awarded the two-year contract, but said it was worth “a medium single-digit Swiss francs (Swfr) million” amount.

Starting in 2011, the core material would be produced locally. Gurit was currently installing a PET extruder in Tianjin, it said.

“The installation of the new equipment, scheduled to be finished before the end of the year, will allow Gurit to produce the same quality and grades of PET core materials in and for China as we are currently producing in Europe,” said Rudolf Gerber, general manager of wind energy.

Gurit said that PET was widely regarded as a future key core material for wind energy applications.

At the end of October, when Gurit reported third-quarter results, it described a “hesitant market situation” in China as customers made decisions on a next generation of wind turbine blades.

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By: Graeme Paterson
+44 20 8652 3214

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