NSG Group will cease one of its two float glass production lines in Gladbeck, Germany starting in January 2025.
NSG Group officials said the decision "reviews current and weak demand in the medium term in the German and broader European glass markets, and supplements a March announcement to early close the group's flotation production line in Weihmer, Germany."
According to a press release, the closure will affect more than 100 employees at the Gladbeck plant. Gladbeck has approximately 520 employees. NSG expects an increase of approximately $11 million in special costs in the financial statements ending March 31, 2025.
NSG Group has announced that it has decided to stop producing floating lines at its plant in Weichhammer, Germany, before planning cold repairs next year. The decision is the result of a review of the current supply and demand situation in the China-Europe architectural glass market, while predicting stable market growth in the long term. Production is expected to stop in the summer of 2024, about 12 months before repairs scheduled to begin in June 2025. The group does not expect to incur any significant additional one-time expenses or layoffs due to the early closure of the floating line.
