Jan. 09, 2019
Swiss high-performance plastics supplier, Gurit Holding AG has divested its PVC operation in China in a bid to shift its focus to core materials manufacturing in the Asia Pacific.
The Wattwil-based company announced 21 Dec that it had completed the deal to sell its production plant in Qingdao, China to Qingdao Zhengyu Sunshine Industrial Co., Ltd.
The agreement includes Gurit’s Qingdao operations, staff, PVC operating assets and product IP. According to Gurit, Qingdao Zhengyu Sunshine Industrial Co has expressed “a strong desire” to continue to supply to Gurit’s existing customers, and to grow the business further.
Gurit announced plans to divest its sole PVC production plant in August last year. At the time, the company declined to comment on the size of the operation or its production capacity in correspondence with PNE