Gurit has announced up to 70 UK jobs will be lost – including on the Isle of Wight – as it prepares to move some of its production overseas.

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The company, which is based in Newport, has told Isle of Wight Radio the changes will come into force by the summer of 2018.

Gurit is as a developer and innovator in the composites industry, supplying composite materials, engineering services, tooling equipment, and select parts and systems. But, in recent years, it has closed sites in China and Canada.

It’s understood in Europe, the decline of the wind energy prepreg market – combined with the overall demand for marine, industrial and automotive prepreg – has now reached a level which suggests consolidation in one site, believed to be in Spain.

A spokesperson for Gurit told Isle of Wight Radio:

“The transfer of prepreg production will result in a reduction of production and support roles in the UK by up to 70 positions by summer 2018.

“Gurit will work to mitigate losses through redeployment wherever possible.”

*UPDATED 11.06am

*Gurit has confirmed ALL 70 positions in the announcement are from within the Newport site. It currently employs around 300 people.

A Gurit spokesperson added:

“The manufacturing of Formulated Products and the UK-based automotive components Technology Centre will remain unaffected from the aforementioned changes.

“Gurit will continue to maintain the technology activity for its prepreg and formulated business in the UK and continue to invest in this Tech Centre in order to retain the Company`s leading technology position, know-how, customer proximity and technical support capability.

“Gurit estimates that the restructuring and transfer cost will result in one-off costs of approximately CHF 3.9 million (£3 million) of which CHF 3.1 million (£2.3 million) will be effective in the 2017 fiscal year and the remainder in 2018.”