Frigoglass to shut Turkish plant
Frigoglass, the manufacturer of commercial refrigeration products for the beverage industry, said it will shut down its Turkish plant by the end of the year to cut costs, the second facility to close this year this year.
In February, it announced it would discontinue manufacturing at its facility in South Carolina by the end of the first quarter, but said it would retain its presence in North America through commercial activities of sales and marketing, distribution and servicing.
The company, which supplies Coke bottler Coca-Cola Hellenic and brewers including Heineken, has reported losses in the last two years as its customers have cut spending in response to shrinking demand in Europe.
Frigoglass said it would stop production at its sole Turkish plant, at Silivri, and move the operations to its existing Timisoara facility in Romania. Details on the expected cost savings from the move will be announced in August when it releases its second-quarter results.
The company did not say how many jobs it will cut in Turkey, but said the move would create new ones in Romania.
Frigoglass also has facilities in Greece, Russia, Nigeria, China, India, Indonesia, South Africa and the UAE.