7 January 1999: The packaging firm Egyesult Magyar Csomagolouveg Kft has announced that it would have to close down its Sajoszentpeter glass manufacturing plant due to the Russian crisis, and would ha…
7 January 1999: The packaging firm Egyesult Magyar Csomagolouveg Kft has announced that it would have to close down its Sajoszentpeter glass manufacturing plant due to the Russian crisis, and would have to lay off 700 workers. The owner of the company is the North American Owens Illinois. According to a recent report, the critical situation of the Hungarian packaging glass industry was further aggravated by the Russian crisis. The traditional domestic and eastern markets of the Sajoszentpeter factory collapsed. The closedown of the factory is part of the radical rationalisation programme which the company has to carry out in order to be able to compete with foreign rivals and to keep its domestic buyers. The Oroshaza factory will continue operating.