Gurit has reported net sales of CHF295.3 million for the first nine months of 2018. This represents a positive increase of 9.8% over net sales of CHF 268.8 million generated in the first nine months of 2017, the company says.

The Composite Materials business unit achieved net sales of CHF157.2 million for the first nine months of 2018 while net sales to the wind energy industry increased by 1.4% to CHF 98.0 million for the first nine months of 2018, compared to CHF 96.6 million generated in the first nine months of 2017. Following months of lower core material supply to the global wind energy industry, demand and volumes picked up in the third quarter of 2018, Gurit says.

Net sales to other material markets increased by 15.1% to CHF59.3 million for the first nine months 2018. The positive momentum in the global marine industry stagnated in the third quarter of 2018 while sales to industrial customers strongly grew year-over-year.

The Aerospace business unit reported net sales of CHF37.8 million for the first nine months of 2018. This represents an increase of 1.7% over the prior-year period.

 In the Composite Components business unit, net sales for the first nine months of 2018 were CHF11.0 million representing a decline of 36.4% over net sales of CHF17.2 million for the first nine months of 2017. Results improved from the very weak second quarter 2018 which, as the company reported, was impacted by an demand decline in Gurit`s biggest car part volume program. The upturn resulted from the start-up of new programs at the manufacturing site in Hungary.

 The Tooling business unit reported net sales of CHF89.3 million for the first nine months of 2018. The increase of 34.6% resulted from multi mold programs as well as extra-long molds.

 For the full year 2018, Gurit says that it expects to achieve a high single-digit revenue growth. 

This story is reprinted from material from Guritwith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.