“The ongoing ban on alcohol sales and restrictions around on-premise consumption results in massive future demand issues and lost confidence in these markets recovering,” Consol chief executive Mike Arnold said.
The SA glass industry’s national revenue is expected to decline by an estimated 15% over the next 12 months. Consol’s plant in Nigel, southeast of Johannesburg, would have added 130,000 tonnes of glass production to Consol Glass’s capacity and would have repatriated imports of glass for Coca-Cola, Heineken and AB Inbev.
The expansion would have doubled the capacity of Consol Glass’s existing Nigel factory, and would have required additional, locally sourced raw materials, including silica, lime, feldspar and cullet or recycled glass, and was expected to support new investments in the mining industry.
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Alcohol ban shatters Consol Glass R1.5bn new plant investmentThe alcoholic beverages industry accounts for about 85% of sales in the glass packaging industry, which expects to fall by about 15% over the next year
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Alcohol sales ban forces SAB to cancel R5bn investmentThe investments that had been considered had included upgrades to operating facilities and the installation of new equipment at selected plants
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