Gurit to acquire wind turbine supplier
Wattwil SG – Gurit will acquire the Danish company JSB Group, a market leader for core material kits for wind turbine blades with some 560 employees. The acquisition will strengthen Gurit’s wind energy business.
Headquartered in Ringköbing, Denmark, JSB Group manufactures materials that stabilize wind turbine blades from the inside, thus ensuring both the quality and durability of wind turbines. The company has seven kitting operations worldwide, and plans are underway to build a new facility in Mexico. It employs some 560 employees worldwide and expects to generate an annual turnover of around 120 million Swiss francs this year, according to a press release.
Gurit, a composite materials specialist headquartered in Wattwil in the canton of St.Gallen, has signed an agreement to acquire JSB Group for 520 million Danish kroner (80 million francs) from its current owners, a group of equity companies and individual shareholders led by the Danish Verdane Advisory Group.
Gurit already manufactures core materials for wind turbines, but the acquisition is expected to strengthen its market position and improve cost competitiveness. JSB products will continue to be offered under its current brand.
“This is another milestone in our corporate strategy to significantly enhance the Gurit wind energy business globally towards market leading positions in the areas in which we operate,” said Gurit CEO Rudolf Hadorn.