August 7 (SeeNews) – Slovenian chemicals producer Cinkarna Celje [LJE:CICG] has incurred a material damage estimated at up to 620,000 euro ($681,500) from the flash floods that ravaged the country on August 4, it said on Monday.
Part of the production and storage areas at Cinkarna Celje’s powder varnishes factory in Mozirje were flooded on August 4 and the economic damage of the destroyed stocks of raw materials and finished products is estimated at between 510,000 euro and 620,000 euro, Cinkarna Celje said in a filing with the Ljubljana Stock Exchange.
The company will attempt to restart production activities at Mozirje on August 7, after repairing damage to electric motors and pumps but will be unable to guarantee timeliness of deliveries until normal conditions are established and the lost stocks of raw materials, packaging and products are replaced, Cinkarna Celje said.
The Mozirje business unit contributed approximately 5.3% to the net operating profit of Cinkarna Celje in 2022. The company suffered no damage in the floods at its site in Celje, where most of its production operations are based.
On August 5, prime minister Robert Golob said Slovenia faced the biggest natural disaster in its history after devastating floods caused by torrential rains killed three people and destroyed roads, bridges and houses on August 4 and 5. The total damage has been estimated at about 500 million euro.