Durobor, the troubled Belgian-based tableware glass manufacturer which went into administration last year, will not be restarted.
The glassmaker went bankrupt last year and, despite several potential buyers coming forward, none were prepared to take the risk of investing in the group.
A revival project backed by a group of workers and the regional government was considered but the financial arm of the Walloon Region, Sogepa, pulled the plug on this.
The Walloon Minister for the Economy, Willy Borsus, said: “After several months of work and many avenues explored, the elements necessary to create a decisive competitive advantage for Durobor in the sector have not been gathered.”
“The glass sector has a high concentration, is competitive and requires significant investments, both in manufacturing tools, in process automation and in training, in order to be able to perform and reach a level of quality and sufficient profitability in the medium and long term.”