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Horizon Global Corp temporarily idles plant in Romania due to COVID-19

Horizon Global Corp temporarily idles plant in Romania due to COVID-19 Source:

BUCHAREST (Romania), March 23 (SeeNews) -  US-based Horizon Global Corporation, one of the world’s leading manufacturers of branded towing and trailering equipment, said on Monday it has decided to temporarily idle its manufacturing facility in Romania's Brasov county as a result of the spread of the coronavirus disease (COVID-19).

The company has made this decision after certain customers in Europe and North America announced the temporary idling of their manufacturing facilities, it said in a press release.

Horizon Global also temporarily idled its production plants in Germany and France.

"The Company is taking immediate steps to mitigate the impact of COVID-19 on its business.  The Company expects to participate in various governmental programs in Europe that will protect both the Company’s workforce and preserve liquidity," Horizon Global said.

Horizon Global Corporation has been present in Romania since 2016, when it acquired Terwa, a manufacturer of metal components for construction and precast industry company Terwa, from Deutsche Private Equity (DPE), according to information posted on the website of Terwa.

It currently employs 218 at the plant in Romania, according to data by financial and business data portal Risco.

Headquartered in Troy, Michigan, Horizon Global Corporation designs, manufactures and distributes high-quality, custom-engineered towing, trailering, cargo management and related accessory products for original equipment, aftermarket and retail channel customers on a global basis.