Gurit to close automotive production site

Recycling

Swiss composite materials maker Gurit said Tuesday it will close down its automotive production site in Hungary in the second half of 2020, after finding no suitable buyers.

Gurit announced its decision to divest its composite components business at the end of 2018, with the divestment affecting the Hungarian site as well. Due to the lack of a buyer, it will shut the plant down under its own management in mid-2020, according to a press release on the companyʼs website.

The company says it will make every effort to assist affected staff and will provide separation support when the plant closes. Gurit is also in contact with customers to reassign residual production orders to other suppliers.

The press release adds that the operational performance of the site has grown significantly in recent months.

Headcount at Guritʼs Hungarian unit stood at 125 last year, noted state news wire MTI, citing public records. The unit had net sales revenue of EUR 9.5 million, it added.

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