Frigoglass announced today that it has reached an agreement with the co-insurance scheme that had undertaken insurance coverage against the fire that occurred in the factory of professional refrigerators in Romania for compensation of € 42 million related to the material damages.
Following the signing of the agreement, Frigoglass received € 10 million from the co-insurance scheme, with the total amount collected amounting to € 25 million, the company said in a statement.
The payment of the remaining amount of € 17 million is subject to the documentation for the expenses 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.
Source: Capital
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