Airex Composites Structures, Altenrhein, Switzerland, has signed an agreement with Wethje Carbon Composites Group in Hengersberg, Germany, on the sale of the unit’s assets and orders at hand for an amount in the low single-digit million range.

The automotive unit generated revenues of around CHF6 million per year in the past.

All jobs at the Altenrhein site will be retained.

The transaction should be concluded by the end of June 2012.