Gurit opens new company in Hungary

The Wattwill, Switzerland-based manufacturer and supplier of composite materials and semifinished composite components says the Hungarian operation will be guided by a management team led by Ing. Gábor Balogh, the newly appointed site manager of the new Gurit (Hungary) Kft.

Gurit Holding AG (Wattwill, Switzerland), a leading global supplier of composite materials, systems and engineering announced on Nov. 22 the opening of a new manufacturing company in Hungary. Gurit’s Composite Systems and Engineering Business Unit currently operates a tooling facility in Taicang/China, an automotive manufacturing site and a prototyping site, both on the Isle of Wight, U.K. The company's engineering services are provided globally.

The Hungarian operation is expected to start in April 2014, building components for the growing bus and automotive business. Until that point, the Gurit (Hungary) team will be trained in the product characteristics in the U.K. The Hungarian company will be led by Ing. Gábor Balogh, the newly appointed site manager of Gurit (Hungary) Kft and an experienced management team, the members of which all joined Gurit in November 2013 and reportedly have considerable experience and a good reputation in composite bus manufacturing.

Gurit will primarily build composite systems for the European needs of the whole business unit in Hungary. The new company will provide capacity for business growth. “We are proud and delighted to be joining Gurit, one of the leaders in the composite industry. My colleagues and I come from the composite bus industry, so we strongly believe that our combined experience and knowledge will make the company more competitive and stronger in the delivery of composite solutions to our customers,” says Balogh.

For further information, contact Markus Knüsli Amacker, CFO and head of investor relations, E-mail:, M +41 79 217 11 67