Hydro said that the plant does not currently have the conditions to continue operating and that most of the production goes to the internal combustion engine market, it is not optimistic about the plant's long-term market prospects as market demand has already dropped significantly.
PT Remscheid has been at a loss for the past two years and is expected to continue losing money in 2020. Hyrdo's precision tube production in Europe will be concentrated at its factory in Denmark.
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