Hydro has planned to shut down its loss-making precision tubing Pune plant with immediate effect as of June 20, 2020. The company announced that its business area Extruded Solutions has decided to close the Hydro Precision Tubing Pune plant in India. The basis for continued operation is not present.
The facility, which employs 61 people, has made losses last year. The unit is expected to make a loss also in 2020 due to negative outlook for this plant. “The long-term market outlook is negative for PT Pune, as most products are used for the combustion engine market where demand for Pune products is declining,” the company said.
Hydro Precision Tubing remains committed to the precision tubing markets globally. It will continue to have a strong footprint in Europe, Asia and North- and South America, maintaining its close cooperation and good relations with customers.
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