Lebanese glass manufacturer Soliver has announced it is expected to close down its factory at Bchamoun at the end of April 2017. General Manager Omar Kaddoura said: "The reason behind the closure is we are losing our market share." He said that investments required to upgrade machinery (now at the end stage of its life cycle) would cost around $30m, adding "We preferred not to invest such amounts." The energy-intensive glass industry has high electricity costs, paying more than US3m annually to generate its own electricity. According to Kaddoura, the same glass products are imported to the market from Egypt and the Gulf at lower prices. Soliver produces 140/tpd and provides its products to 15 local manufacturers such as Interbrand, Pepsi, Kassatly Chtaura, among others. The company has 250 employees and severance compensation has been agreed with the Ministry of Labor. The company added that the site will not be sold for the time being and, "If the situation improves, we may decide to reopen the factory."
