NSG to put UK float line on hot hold for three months
As a consequence of the overcapacity that still exists in the European glass industry, the NSG Group has announced that it will put the CH2 float line at the Cowley Hill plant in the United Kingdom on hot hold, beginning January 3, 2013. NSG officials expect the line will remain on hot hold for three months, according to a December 14 release.
"This action will allow the company to reduce stock levels and therefore working capital," according to the NSG release. "It will not impact significantly on the U.K. market as the company can continue to supply from stocks and from [the] UK5 float line at Greengate, U.K. Local management is in discussions with the employee representatives concerning manning plans for different parts of the operation during the hot hold, as well as cost-saving opportunities."