Crete Plastics subsidiary in China temporarily closed
Crete Plastics subsidiary in China temporarily closed
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Crete Plastics subsidiary in China temporarily closed

It is still pending the exact time that the factory would be again operational.
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RE+D magazine
12.04.2022

The "Shanghai HiTeC Plastics" factory, a subsidiary of Crete Plastics in China, remains closed from March 29, due to a total lock-down that has been imposed in Shanghai.

The company said in a statement that it is still pending the exact time that the factory would be again operational. 

In the same announcement was emphasised that due to this fact -the Russia-Ukraine war and the significant increase in the costs of raw materials, energy and transport- the profitability of the first half of this year is expected to decrease, compared to the same period last year.