With effect from 1 September, 2002, the Gurit-Heberlein group (CH-9630 Wattwil; www.gurit.com) will take over the internationally operating Structural Polymer Group Ltd. (SP Systems, GB-Newport PO30 5WU, Isle of Wight; www.spsystems.com), one of the world´s leading players in the field of high-performance fibre composite materials. The takeover of SP Systems and its merger with the “Gurit Material Systems” business will make the Swiss group a European market leader and place it among the world´s three biggest manufacturers of advanced composite materials. To finance the GBP 75m acquisition, a 6% equity increase of up to 26,520 new Gurit bearer shares is planned, in addition to a cash payment of GBP 54m.

During 2002, the SP group, with 380 employees in the UK, Spain, Australia and New Zealand, will have consolidated sales of about GBP 60m. In the field of advanced composites, Gurit at present mainly supplies system solutions to customers in the winter sports (skis and snowboards), aviation/aerospace and infrastructure/construction industries, as well as solutions for special applications (offshore oil and gas drilling, automotive industry). SP products are used for the most part in wind power, shipbuilding and automotive applications.

• Plasteurope.com Service: Additional details of Gurit-Heberlein´s takeover of the SP group: PIE-No. 45795.