Fri­go­glass to shut Turk­ish plant

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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