News & Awards
Financial update on South African Business

Athens, February 11, 2015 Frigoglass SAIC (hereinafter “Frigoglass”) announces today that an internal audit of its Cool operation subsidiary in South Africa has revealed an overstatement of earnings after tax in the financial years prior to 2013. This was the result of intentional misstatement at local senior management level, leading to the restatement of prior years’ balance sheets with a cumulative effect on Frigoglass group’s equity of €7.4 million as of 31 December 2014.

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