Major glass producer axes two of its plants to stay afloat

A long tradition of Bohemian glass making almost came to an end on Monday when Bohemia Crystalex Trading, the Czech Republic’s largest producer of glass, was left little choice but to consider closing down all of its four plants due to severe financial difficulties.

But late Monday evening, the company struck a deal with its creditors, buying time to seek investors who could save the glassworks from going under. The deal has come at a price: two of its facilities will still close down.

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600450 Major glass producer axes two of its plants to stay afloat
Date: 6 October 2008

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