Acquisition of PNG Balsa completed

Horgen, June 30, 2015 – Schweiter Technologies’ acquisition of PNG Balsa in Papua New Guinea, as announced on October 30, 2014, was closed as of June 30, 2015.

PNG Balsa specialises in the planting, harvesting and processing of balsa wood used primarily as a core support material within wind power turbine blades and for the marine market. With this acquisition, 3A Composites is further strengthening its leadership position in the core material business and is securing its future supply of balsa wood for the wind power industry and new areas of application.

For further information please contact:
Martin Klöti, CFO
Tel. +41 44 718 33 03, fax +41 44 718 34 51, martin.kloeti@schweiter.com