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Otto Fuchs to lay off 200 workers at plant in N Hungary

Otto Fuchs Hungary, the Hungarian unit of Germany's Otto Fuchs KG, will lay off nearly 200 workers at the company's wheel-rim factory in Tatabánya (N Hungary) after discontinuing production of cast alloy rims at the plant at the end of March, Otto Fuchs Hungary CEO Joachim Stachelscheid announced on Tuesday evening.

Stachelscheid said that Otto Fuchs Hungary decided to abandon production of the cast alloy rims because it could no longer compete with companies manufacturing the same product in China and Turkey.

Stachelscheid noted that Otto Fuchs Hungary expects to increase output in 2012-2013 following the transfer of forged aluminum-wheel production to Tatabanya from the Otto Fuchs KG plant in Mainerzhagen, Germany.

The company, earlier operated on the name of SUOFTEC, became 100% owned by Otto Fuchs KG after it bought an 50% stake owned by Superior Industries last year.