Global glazing industry reacts to invasion of Ukraine
March 8th, 2022 international glazing companies have begun to cease operations in the Russian Federation (Russia) in response to the country’s invasion of neighboring Ukraine. Russia accounts for approximately 10.0% of all European operations within the industry, as well as 10.0% of all industry employment. Major players such as Switzerland-based REHAU and AGC Europe have published statements condemning the attack. REHAU has set up an account for donations from its estimated 20,000 employees worldwide. The glazing industry is reliant on natural gas, of which Russia is a top exporter. The United States has pledged to increase its natural gas exports to Europe to replace Russian fuel, however experts anticipate prices to remain high.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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