Sonoco Hellas closing two more factories in Greece
The management of the Sonoco Hellas paper mill announced to its 98 employees on Tuesday that it is closing its two factories in Greece definitively on June 1.
The subsidiary of the American giant Sonoco Alcore is shutting down units in Thessaloniki and Kilkis, 26 years after the acquisition of the old EVIEN textile factory in Thessaloniki. Employees have been told that a voluntary exit program will be implemented, without providing further details.
High energy costs also seem to have played a role in the shutdown. Although it had invested in self-generated electricity, it was unable to connect to the grid due to a lack of grid capacity.
The decision to close the Sonoco Hellas paper mill comes less than a week since the shuttering of the Youla glassworks and after last year saw the closure of four more factories, those of Tupperware in Thiva, of Reckitt Benckiser near Halkida and the units of Crown Hellas Can Packaging in Patra and Corinth.
What do all of the above have in common? These are subsidiaries of multinational groups, which take drastic decisions much more easily and pull the plug on factories whose operation is deemed unprofitable.
