Gurit says that it plans to close its automotive production site in Hungary in 2020.

This follows the company’s decision to divest its Composite Components business. Since no suitable buyer could be found, Gurit has decided to close the plant, the company said. The company adds that it will make every effort to assist the affected staff and will provide separation support at the point of the plant closing mid-2020.

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, Gurit says.

This story uses material from Gurit, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.