Hazelwood plant forced to shut down due to exceptionally heavy rainfalls in St. Louis area
Amsterdam, 26 July 2022. Cabka N.V. (“Cabka” or the “Company”), a leading integrated circular production company, listed at Euronext Amsterdam, reports that extreme rainfall in the metropolitan area of St. Louis (MO), USA, on Tuesday morning led to flash floods throughout the city including Cabka’s local premises in Hazelwood (MO) and conclusively, a shutdown of the site. All staff was able to leave the premises unharmed.
Last night extreme rainfall of up to nine inches led to several flash floods in the St. Louis area close to the Cabka production site setting the plant under water. With production halted at this time and the extreme weather still continuing, no indication of the consequences can be given. The Hazelwood plant represents approximately 15% of the total Cabka production capacity.
Cabka is in the business of recycling plastics from post-consumer and post-industrial waste into innovative reusable pallets- and large container solutions enhancing logistics chain sustainability. Cabka is leading the industry in its integrated approach closing the loop from waste, to recycling, to manufacturing. Backed by its own innovation center it has the rare industry knowledge, capability, and capacity of making maximum use bringing recycled plastics back in the production loop at attractive returns. Cabka is fully equipped to exploit the full value chain from waste to end-products.
Cabka employs some 700 FTE in Europe and the US recycling 150 kton of plastics into some 10 million pallets and 200,000 large containers realizing EUR 171m in revenues, in 2021.
Cabka is listed at Euronext Amsterdam as of 1 March 2022 under the CABKA ticker with international securities identification number NL00150000S7.
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