Booze ban could severely affect glass industry
The glass industry is warning should the booze
ban be extended beyond mid-February, it could spell trouble.
CEO of Consol, Mike Arnold, says the industry has lost around R1.5 billion as a result of the previous restrictions on liquor trading.
He says they stand to lose a further R1.5 billion if the ban is kept in place.
Arnold is worried this could cost thousands of jobs…
“If the alcohol ban is extended, then certainly we will face the decision as to how much capacity we have to switch off. In terms of the longer term of course the harm has already been done to the market and then we look for recovery from anywhere between one and three years,” Arnold explained.
“The current status quo in the alcohol ban is alcohol is continuing pending the lifting of the alcohol ban in February. Sadly, if that doesn’t happen, we look to cut capacity along with that. There’s a possibility that jobs will be on the line,” he added.
South African Breweries has already announced its plans to scrap a R2.5 billion investment in South Africa as a result of the liquor ban.