The biggest crises are over 400 years old..the energy crisis threatens to end "Haynes Glass" Deutsch

The German company Heinz-Glas, one of the largest perfume bottle manufacturers in the world, faces a real danger of collapse due to the gas crisis, especially as winter approaches.

The 400-year-old company has survived several major crises, including two world wars and an energy crisis in the 1970s, but the energy crisis now facing Berlin threatens to destroy the company.

Agence France-Presse quoted Heinz Glass Deputy CEO Murat Agash as saying the company is “facing an exceptional situation.”

“If the gas supply stops, glass production in Germany will most likely stop,” he added.

The flow of gas to Germany via pipeline from Russia helped lower production costs, allowing the Heinz Glass Company, founded in 1622, to generate an annual revenue of about $305 million.

Berlin is looking for alternative energy sources to replace Russian gas, which used to be about 55% of its total gas imports, which is currently causing energy prices to rise, that is, a cost increase of 10 to 20 times compared to 2019 for Heinz Glass, according to Agashu said to the data.

With winter approaching, the crisis is approaching its climax, as the consequences of a complete suspension of Russian gas supplies could be a death blow for many companies.

Agash said it would cost $51 million to replace the entire gas system with electrical infrastructure in the long run, something the company cannot afford.

“We need government support,” Agash said, and warned that the company may have to relocate its factories to other places, such as India and China, where the company already owns a plant, if it does not receive support.

However, Heinz Glass management remains optimistic that the company will be able to withstand this test.

In this regard, Agash said that since the founding of the company, “many crises have occurred (…) in the twentieth century alone, starting with the First World War, the Second World War, the energy crisis of the seventies and several critical situations. … We have outlived them all.”

“Somehow we will be able to overcome this crisis,” he added.

Source: AFP

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