Switzerland’s Gurit Q3 sales fall 28% to Swf206m

25 October 2013 17:01  [Source: ICIS news]

LONDON (ICIS)--Gurit's nine-month sales fell 28% year on year to Swiss francs (Swfr) 206m ($231m, €167m) on the back of lower sales from its Composite Materials segment, the Switzerland-based producer said on Friday.

Gurit said while its sales reflect a decline over the respective prior-year period, the company continues its recovery from the disappointing first six months and grew its overall sales in the third quarter by 10.6% over the second quarter.

Sales in its Composite Materials business in the front nine months of the year slipped 34% as sales to the wind energy industry continued to suffer from overcapacities in Asia and some project postponements in Europe.

($1 = Swfr0.89, €1 = Swfr = €1.23)

By: Franco Capaldo
+44 (0)20 8652 3214

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