Şişecam to temporarily suspend production

Şişecam has announced that it will temporarily suspend production at its flat glass manufacturing facility in Northern Italy due to the furnace undergoing cold repair earlier than planned.

According to the company's statement, Şişecam, acting in line with its long-term growth targets, aims to create value for its shareholders by managing current economic conditions in the best possible way.

In this context, the company, which is taking steps to optimize its costs by considering its production and sales projections, has brought forward the maintenance process of the furnace at its factory in Northern Italy. With the decision taken, the float line at the facility will be temporarily stopped as of today, and the lamination line will be stopped as of March 13.

The company plans to utilize the social security mechanism valid in the country to ensure that the personnel working at the factory do not suffer any loss of income during the cold repair period.

Aiming to maintain budget discipline in the current environment of uncertainty, Şişecam targets to ensure its financial balance by increasing capacity utilization rates at its other facilities in Europe. This process is expected to contribute between 8-10 million euros to the company's earnings before interest, taxes, depreciation, and amortization (EBITDA).

News Source: AA