Duralex CEO was a guest on Good Morning Business. José Luis Llacuna has thus retaliated on a €15m loan granted by the state to help the club “get through the winter”.
Duralex, a company at the heart of the energy crisis. Guest of Good Morning Business this Tuesday November 22, its CEO José Luis Llacuna explained that the loan of 15 million euros granted by the state to “spend the winter” would not allow his glass factory to restart its furnace. :
“Going over the winter is a shortcut, because energy prices for this winter, especially for the months of December, January and February, have dropped, but are still around 1,000 euros per MWh. At this price, it is impossible to continue produce, therefore this standby mode of the oven, operational since November 1st, is not questioned, nor is the restart from April 1st questioned”.
A loan that will obviously have to be repaid, specified the CEO of Duralex, recalling the other state support measures:
“We are adding debt, fortunately Duralex is doing well. We will end 2022 with a turnover of 30 million euros, against 23 million last year. The state is now helping us in other ways with short-time work and the resilience plan of Ukraine on which Duralex is expected to receive 800,000 euros this year and around one million euros next year, an outright subsidy.
A loan to secure the future
What nonetheless guarantees the company’s future, while its energy bill has soared in recent months:
This loan “guarantees the sustainability of the company, with 10 million euros more energy this year, this money had to be there to pay the bills, to pay for innovation, to pay for the maintenance of the industrial tool, so this money helps us above all to ensure the sustainability of the work, the company and the brand”.
It is also an opportunity to take stock of energy prices. Duralex has already purchased its electricity for the second and third quarters, “about 800-900 euros per MWh”, indicated José Luis Llacuna, “for the month of April, I bought it 10 times cheaper (expensive)” .
Buying made in Europe, “is very important”
While the prices of naval transport have fallen sharply, “rising to 18,000 dollars last year, today just 2,000 dollars”, glass imports from China are picking up again. “It’s normal (to go back to buying in China), but we need the support of consumers because otherwise the European industry is condemned to a complicated future”.
“The French have appropriated this brand and help us. Every time I make a public intervention, our sales on our merchant site triple within 24-48 hours. The French want to protect our brand and I ask them to continue buying Products Duralex and French and European products, it’s very important,” concluded José Luis Llacuna.