The demand in the global Aerospace market has dropped because of the COVID-19 pandemic. On October 1, 2019 Gurit already communicated its intention to close the Zullwil, Switzerland site in the second half of 2021. The site will now stop production before the end of 2020 due to the current market situation. After the closure of the Zullwil plant, Gurit will continue to serve the global demand for Aerospace prepregs out of the renewed and extended facilities in Kassel, Germany.

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Forward-looking statements: To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.