|Image courtesy Gurit Holding.|
Gurit Holding AG (Zürich, Switzerland) reported last month that its newly formed company Gurit Italy PET Recycling has signed an agreement to acquire PET recycling production facilities from Valplastic (Carmignano di Brenta, Italy) for an undisclosed purchase price. The transaction is expected to close at the end of this month.
The subsidiaries of Gurit Holding specialize in the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fiber-reinforced prepegs, structural core products, gel coats, adhesives, resins and consumables.
Gurit’s information explains that the company will continue to invest significantly in recycled PET core material production assets globally for wind and non-wind industry customers. In order to have sufficient feedstock of quality controlled and properly blended PET for the extrusion process, Gurit needs to have good access to this part of the value chain.
Valplastic specializes in the recycling of PET bottles and the production of recycled PET flakes and granules later used for extrusion of recycled PET core. The transaction will allow Gurit to secure quality and cost-effective raw material supplies for its PET strategy and to link the value chain elements, starting from the recycled bottle down to a finished quality core kit for OEMs manufacturing wind blades.
“With this transaction, Gurit can connect the value chain from purchased recycled bottles out of the collection network down to a precision core kit for global wind OEMs,” said Rudolf Hadonr, CEO of Gurit Group. “It allows Gurit to secure feedstock, quality of product through content control and strong cost competitiveness. We welcome the team in Carmignano di Brenta to Gurit and look forward to working together to grow the recycled PET business as a sustainable product to serve the global wind energy industry on its important mission.”
As part of the asset purchase agreement, Gurit acquires production equipment, working capital and the current staff of approximately 30 full-time employees based in Carmignano di Brenta. Gurit will manage all operations under the Gurit brand name and will not acquire the Valplastic brand, said Gurit.
Gurit supplies global growth markets with composite materials as well as composite tooling equipment, core material wind turbine blade kits, structural engineering and select finished parts. Gurit operates production sites and offices in Canada, China, Denmark, Ecuador, Germany, Hungary, Indonesia, India, Italy, New Zealand, Poland, Spain, Switzerland, Turkey, the UK and USA.