Greek cooler maker Frigoglass to close Turkish plant

Frigoglass SAIC

18/07/2014 11:20

ATHENS, July 18 (Reuters) - Greek refrigerator maker 
Frigoglass  FRIr.AT  will close down its Turkish plant by the 
end of the year to cut costs, it said on Friday, the second 
facility it has shut this year. 
    The company, which supplies Coke bottler Coca-Cola Hellenic 
 CCH.L  and brewers including Heineken  HEIN.AS , has reported 
losses in the last two years as its customers have cut spending 
in response to shrinking demand for their products in Europe. 
    Frigoglass shut its facility in South Carolina - its only 
U.S. plant - earlier this year. 
    It 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 on Aug. 7 when it releases its 
second-quarter results, it added. 
    The company declined to say how many jobs it will cut in 
Turkey but said the move could create new ones in Romania. 
    Frigoglass also has facilities in Greece, Russia, Nigeria, 
China, India, Indonesia, South Africa and the United Arab 
Emirates. 
 
 (Reporting by Angeliki Koutantou; Editing by Pravin Char) 
 ((angeliki.koutantou@thomsonreuters.com)(+30 210 
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