Update Hazelwood plant status after exceptionally heavy rainfalls and floods in St. Louis area
Amsterdam, 5 August 2022. Cabka N.V. (“Cabka” or the “Company”), a leading integrated circular production company, listed at Euronext Amsterdam, provides an update of the status of its Hazelwood plant after extreme rainfall and subsequent floods in the metropolitan area of St. Louis (MO), USA, forced to shut it down on Tuesday 27 July, as reported earlier.
After a first assessment of the damages, the Company concludes that production is not going to restart in the short term on its premises in Hazelwood, Missouri, one of Cabka’s production plants representing roughly 15% of Cabka‘s overall production capacity. That said, all essential injection molding tools have been successfully recovered, and will be used to continue supply to key customers using alternative production capacities. Further assessments are on-going, and the Company expects to present additional information at publication of the Half-Year results on 17 August 2022.
For more information, please contact:
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.
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.
This document contains information that qualifies as inside information within the meaning of Article 7(1) of Regulation (EU) No 596/2014 on market abuse.