Gurit Secures Multi-Year Subsea Contract

Gurit Holding AG, listed on the SIX Swiss Exchange, has announced a multi-year contract to supply Corecell structural foam core to the subsea industry. This strategic move will see Gurit expand its operations within the Asia-Pacific region, particularly in Australia, by opening a new facility near Brisbane, Queensland. The new site will also host the relocation of its current distribution facility, supporting the demands of this contracts.

The agreement is anticipated to bring in sales ranging from low to mid double-digit million CHF within the next five years. Corecell, a high-performance material originally developed by Gurit in the 1980s, continues to excel in demanding applications, maintaining a strong market position.

Lance Hill, General Manager Marine & Industrial at Gurit, highlights this contract as pivotal for the company's strategic realignment. By entering into new markets, Gurit aims to diversify beyond its traditional sectors, capitalizing on advanced composites solutions.