Verlipack - Problems Return

Glass bottle manufacturer Verlipack of Belgium, which employs 400 people, is once again in a serious financial predicament. The company, in which German group Heye Glasfabrik has a stake, has consolidated losses well in excess of the BFr365m calculated in February. Observers attribute this "more than alarming" situation to an oversaturated market, causing prices to plummet in the last six months, as well as to serious management problems.