Borosil Renewables Limited has informed that due to the absence of defined demand, continuation of production at Glasmanufaktur Brandenburg GmbH (GMB) was deemed unfeasible and therefore in order to reduce the losses and manage cash flow more effectively, GMB was considering temporary cool down of its furnace, (subject to a controlled cool down to facilitate re-starting once demand stabilises), while continuing the cold end operations.

GMB has implemented the temporary cool down of its furnace. The processing facilities at GMB will remain operational with a minimal workforce for conversion of semi-finished glass into finished glass for pending orders, with anticipation of full resumption of operations when the demand recovers.

During the financial year 2023-24, GMB’s revenue from operations was Rs. 409.80 crore and its net worth stood at Rs. 141.62 crore, representing 29.93% and 16.85%, respectively, of the company’s consolidated revenue from operations and net worth, for the same period.