The motor parts company is based in Campsie outside Derry
Workers at the Calcast factory in Campsie, County Londonderry, have said they fear the decision to close the plant has already been taken.
A decision has not yet been made on the factory's future, but the company's directors are to meet on Friday.
More than 100 jobs will be lost if the factory closes. The company has said it is in the process of contacting staff.
Michael Wallace, who works in the motor parts factory, said employees fear the closure is "inevitable".
"The decision's already made at head office, they're just dotting the i's and crossing the t's," said Mr Wallace.
"As you walk the floor there's no chat and banter, everyone's quiet.
"You can pick up on the feeling in the workforce that the inevitable's going to happen," he said.
Foyle MP Mark Durkan said he feared the worst.
"Unfortunately we know from past experience when you're told that a meeting is going to take place, often in effect the decision has already been taken," he said.
"What we need to do is see is there any way of influencing the company to take a different decision.
"Can they create different conditions for this plant, maybe by placing work for other parts for different vehicles into this plant?"
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