Frigoglass received €15m advance payment related to the insurance
indemnification for the fire incident in Romania
Athens, Greece, 3 September 2021 - Frigoglass announces that in September 2021 received a €15 million advance payment from the co-insurance scheme which had underwritten the insurance coverage in relation to the fire incident in its commercial refrigeration manufacturing facility in Timisoara, Romania.
The total insurance indemnification related to the property damage and business interruption caused by the fire incident is under assessment by the insurance companies.
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Frigoglass is a strategic partner to beverage brands throughout the world. We are one of the global leaders in the Ice Cold Merchandisers (ICM) market and the principal supplier of glass packaging in the high growth markets of West Africa.
Frigoglass has long-standing relationships with blue chip customers in the soft drinks and beverage industries. Our bespoke Ice Cold Merchandisers (beverage coolers) enhance our customers' beverage branding and facilitate immediate beverage consumption. At the same time, our leading innovations in the field of green refrigeration enable our customers to meet their sustainability and carbon emissions reduction targets.
With its footprint, Frigoglass is well established in the more mature European markets while it is evolving and establishing its position in emerging markets. We support our customers through manufacturing facilities in five countries and an extensive network of sales and after-sales representatives.
In our glass bottle business, we are focused on Africa, which is a prime region of investment for our customers. We aim to create value for our customers by building on our position as a leading supplier of glass bottles and complementary packaging solutions in West Africa.
For more information, please visit http://www.frigoglass.com.
Frigoglass SA published this content on 03 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 September 2021 12:31:04 UTC.