Planned Reduction in Float Glass Production Capacity in Europe
The NSG Group (hereinafter “the Group") has announced its intention to reduce its float glass production capacity in Europe as follows:
The NSG Group today announces its intention to put its Architectural float furnace at Porto Marghera, Venice, Italy, on ‘hot-hold'. This means that the furnace will be kept in an active state from which it can be restarted at short notice. It is intended that production will recommence on this line when market conditions permit.
The Group is taking action to reduce capacity and output to match the requirements of its customers. The decision follows the Group's announcement on 14 May 2012 of its intention to postpone the restart of one of its float lines in Gladbeck, Germany, which is currently undergoing a planned cold repair.
3. Impact on operations
The impact on the Group's financial outlook for FY2013 (year to 31 March 2013) is being reviewed and will be announced once finalised.