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NSG plans reduction in architectural float glass capacity in Europe


November 9, 2012
By NSG Group

Nov. 15, 2012 – The NSG Group has informed employee representatives in its European Architectural Glass business of its intention to reduce its production capacity in two locations. In Sweden, there will be the closure of a float line in Halmstad, Sweden, affecting approximately 230 workers. Italy will be the site of the closure of a float line in Porto
Marghera, Venice, affecting approximately 140 workers.

Nov. 15, 2012 – The NSG Group has informed employee representatives in
its European Architectural Glass business of its intention to reduce its
production capacity in two locations. In Sweden, there will be
the closure of a float line in Halmstad, Sweden, affecting approximately
230 workers. Italy will be the site of the closure of a float line
in Porto
Marghera, Venice, affecting approximately 140 workers.

According to the NSG, "The group is taking action to reduce capacity and output to match the requirements of its customers, consistent with its restructuring program. The proposed action is to right-size the capacity to further reduce fixed cost base. The closure of the float line is expected to be at the end of March 2013. This action is anticipated within the group’s previously announced forecast for the current financial year and no change to that forecast is therefore expected as a result of this announcement.

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According to the group, "The furnace is currently in a state of 'hot-hold', as announced on July 6. Having regard to the continued challenging conditions within the European architectural market, the group proposes to discontinue the 'hot-hold' and close the line. The closure of the line is expected to be effective from January, 2013. There is no material impact arising from this action on the group's financial outlook for FY2013."


Related Link
www.nsg.com


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