| 1 MINUTE READ

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

Gurit says it was unsuccessful locating a buyer for the company, and will work with customers and affected staff during the process of closing the plant.
#sustainability

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Gurit (Zurich, Germany) has announced that it will close its Composite Components Business at its Hungary site in mid-2020. The company originally announced in December 2018 that it would divest this business, but has said that after its divestment efforts, no suitable buyer was found. The Hungary plant produces components for the automotive market.

Gurit says it 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.

Despite this, the company says that the operational performance of the site has significantly improved in recent months. Shut-down cost is estimated at a low single digit million amount affecting the years 2019 and 2020.

CW has also recently reported news related to Gurit:

Related Topics

RELATED CONTENT

  • Boeing 787 Update

    Approaching rollout and first flight, the 787 relies on innovations in composite materials and processes to hit its targets

  • A350 XWB update: Smart manufacturing

    Spirit AeroSystems actualizes Airbus’ intelligent design for the A350’s center fuselage and front wing spar in Kinston, N.C.

  • Tooling

    Composite parts are formed in molds, also known as tools. Tools can be made from virtually any material. The material type, shape and complexity depend upon the part and length of production run. Here's a short summary of the issues involved in electing and making tools.