Creta Plastics says Shanghai subsidiary closed since March 29 due to lock-down

Creta Plastics’ subsidiary in China, Shanghai HiTeC Plastics, has remained closed since March 29, 2022, due to a universal pandemic-related lock-down in the wider Shanghai area, the Irakleio-based company announced on Monday.

No information was given when the unit will reopen.

Additionally, the company cited the ongoing Russian invasion of Ukraine, along with significant hikes in the cost of raw materials, energy and transport as adversely affecting its profits for the first half of the ongoing year, and compared to the corresponding period of 2021.