Amsterdam,
26
July
2022
|
15:24
Europe/Amsterdam

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.

 

For more information, please contact:
David Brilleslijper, Investor & Press contact
IR@cabka.com, or D.Brilleslijper@cabka.com
+316 109 42514
www.cabka.com

 

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About Cabka
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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The content of this press release may include statements that are, or may be deemed to be, ''forward-looking statements''. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ''believes'', ''estimates'', ''plans'', ''projects'', ''anticipates'', ''expects'', ''intends'', ''may'', ''will'' or ''should'' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Company’s business, results of operations, financial position, liquidity, prospects, growth or strategies. 

Readers are cautioned that any forward-looking statements are not guarantees of future performance. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this press release. The Company undertakes no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by law.

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