GURIT AND GENESIS PRODUCTS ANNOUNCE NEW SUPPLY CONTRACT FOR OFFICE INTERIORS IN NORTH AMERICA

Zurich, January 8, 2025

Gurit (SIX Swiss Exchange: GURN) and Genesis Products today announce a long-term supply contract for Gurit’s Kerdyn PET structural foam core. The contract allows for exclusive supply of Kerdyn PET to Genesis Products for the use in office and commercial interior applications in the North American region. This agreement is projected to generate a high single-digit million CHF in sales within two years.

Kerdyn PET is a high performing, low-carbon footprint alternative core for office screen and work surface applications where low weight and improved health & safety is required. Made from up to 100% recycled PET, sourced mostly from post-consumer plastic bottles, it can be thermoformed and easily machined, aligning with Genesis Products’ reputation of delivering trend-forward solutions that elevate environments.

“As a supplier to office furniture OEMs, we are always looking for new ways to bring value to our customers through materials expertise and innovation. We are thrilled this partnership with Gurit, a leading supplier of advanced materials, brings together the benefits of Kerdyn PET and our manufacturing process to deliver high-quality components that help customers offset carbon and remove materials like fiberglass from the workplace,” says AJ Balthes, VP of Product Development, Genesis Products.

“We are excited to supply new lightweight, low footprint materials to Genesis Products, an established and trusted supplier of laminated panels and custom molded solutions. This agreement is a significant step in the strengthening of our multi-market strategy,” says Lance Hill, General Manager, Gurit Marine & Industrial Business Unit.

Kerdyn PET will be supplied exclusively to Genesis Products for use in office and commercial interior applications in North America; however, it will also be available for integration into their projects in other sectors such as recreational vehicles and residential or commercial cabinets and closets. 

About Gurit
The subsidiaries of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GURN) are specialized in the development and manufacture of advanced composite materials, composite tooling equipment and core kitting services. The product range comprises structural core materials, structural profiles, prepregs, formulated products such as adhesives and resins as well as structural composite engineering. Gurit supplies global growth markets such as the wind turbine industry, marine, building and many more. Gurit operates production sites and offices in Australia, Canada, China, Denmark, Ecuador, India, Italy, Mexico, New Zealand, Poland, Spain, Switzerland, Turkey, United Kingdom and the United States.
www.gurit.com

About Genesis Products
Founded in 2002, Genesis Products is "Product Driven – People Powered" as a leading supplier of laminated panels and wood components for a variety of industries, including leading manufacturers in the Cabinet & Storage, Store Fixture, Office & Education, Recreational Vehicle, Furniture and Transportation industries. Our products and services include: panel supply, laminated panels, panel processing, interior doors, cabinet doors and components, wrapped moldings, bed parts, closets and shelving, drawer parts, tables & bases, RV interior components, PET molded parts, thermal and acoustic liners, insulators and shields, and assembled store fixtures. Genesis operates facilities in Elkhart County, Indiana; Fort Wayne, Indiana and Keysville, Virginia, with fourteen plants across the Midwest and East Coast.

Gurit Group Communications

Phone: +41 44 316 15 50, e-mail: investor (at) gurit.com

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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.