Ad hoc press release in accordance with Art. 53 of the Listing Rules – Vetropack's Ukrainian glass works severely damaged by military activity
06.03.2022: Bülach, 6 March 2022 – The Ukrainian production site of Vetropack Holding Ltd, one of the leading manufacturers of glass packaging in Europe, severely damaged in the course of military activity. There were no injured employees.
Vetropack had already begun systematically shutting down production at the Ukrainian glass works – PrJSC Vetropack Gostomel in Kyiv – for security reasons on 24 February 2022. All employees are suspended temporarily from their duties on full pay. “We are glad that we chose to suspend production in time. By doing this, we have been able to prevent there from being any victims among our colleagues as a result of these events,” Johann Reiter, CEO of Vetropack Holding Ltd, explained.
The precise extent of the damage to the glass works in Gostomel is not yet known. “The situation on site is difficult and also dangerous due to the potential of further military activity,” said Johann Reiter. “It may therefore take a long time until we get a clearer picture of the situation at the site. It is already certain that parts of the production were severely damaged. Restarting production will not be possible in the near term.”
In Ukraine, Vetropack produces a variety of glass packaging with three furnaces and eight production lines. The Gostomel site is one of Vetropack Group's nine European production sites. Glass has been manufactured there since 1912. In 2021, Vetropack Gostomel contributed approximately 10 percent to Vetropack Group's revenue and EBITDA. In 2006, Vetropack Group took over the site as part of its continuous growth strategy.
Vetropack Group is one of the leading manufacturers of glass packaging for the food and beverage industry in Europe. The Group has state-of-the-art production facilities as well as sales and distribution offices in Switzerland, Austria, the Czech Republic, Croatia, Slovakia, Romania, Ukraine, Italy and the Republic of Moldova.
