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Gurit to close its automotive production site in Hungary mid-2020

Gurit announces to close its automotive production site in Hungary in 2HY 2020.

Gurit to close its automotive production site in Hungary mid-2020

As communicated on December 19, 2018, Gurit decided to divest its Composite Components Business. Despite professionally executed divestment efforts no suitable buyer could be found. Therefore, Gurit decided now to close the plant mid-2020 under its own Management.

Gurit will make every effort to assist the affected staff and will provide separation support at the point of the plant closing mid-2020. Gurit is in contact with the customers to re-assign the residual production orders to other suppliers.

The operational performance of the site has meanwhile significantly improved in recent months. Shut-down cost is estimated at a low single digit million amount affecting the years 2019 and 2020.

Companies: Gurit

Industries: Automotive and Road Transportation

Terms: Business

Via
This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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