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SA’s biggest glass maker, Consol, has predicted a 15% drop in industry revenues over the next 12 months, citing slow recovery from the Covid-19 lockdown alcohol ban and the possibility of a second wave of coronavirus infections.
Consol is among several companies that called off plans to invest in factories after the ban on the sale of alcohol after the lockdown restrictions choked off sales and left companies scrambling to build cash buffers. The alcohol industry, dominated by AB InBev and Heinken, accounts for about 85% of sales in the R11bn strong glass packaging industry. ..
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