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Greece's Frigoglass receives 15 mln euro insurance payment after fire at Romanian plant

Greece's Frigoglass receives 15 mln euro insurance payment after fire at Romanian plant Fire at Frigoglass factory in Timisoara Source: Emergency Situations Unit (ISU) Timis Facebook page

BUCHAREST (Romania), September 3 (SeeNews) - Greek commercial refrigeration and glass packaging solutions manufacturer Frigoglass said on Friday that it has received a 15 million euro ($17.8 million) advance insurance payment after a fire broke out at its refrigeration plant in Timisoara, in western Romania.

The total insurance indemnification related to the property damage and business interruption caused by the fire is under assessment by the insurance companies, Frigoglass said in a press release.

In June, Frigoglass said that it had to stop production at its beverage coolers plant in Timisoara due to a fire.

Headquartered in Athens, Frigoglass is active on the Ice Cold Merchandisers (ICM) market and is the main supplier of glass packaging in high growth markets of West Africa.

The company has been present in Romania since 1994 and employs 1,042 at the non-domestic cooling and ventilation equipment plant in Timisoara, according to data posted on the Romanian finance ministry's website.

($=0.8425 euro)

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