Frigoglass announced that it has reached an agreement with the co-insurance scheme that had taken over the insurance coverage against the fire that occurred in the factory of professional refrigerators in Romania for compensation of 42 million euros related to material damage.
Following the signing of the agreement, Frigoglass received 10 million euros from the co-insurance scheme, with the total amount collected amounting to 25 million euros.
The payment of the remaining amount of 17 million euros is subject to documentation for expenditures related to the reconstruction phase of the building and the purchase of equipment.
The insurance compensation related to the effects of the business interruption is estimated by the insurance companies.
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