Rain Industries update on its European operations

11 Sep 2022 , 01:31 AM

Rain Industries announced that its wholly owned subsidiary Rain Carbon Inc has temporarily closed an operating unit in Europe and is developing additional energy-related contingency plans for its other European production units in anticipation of potential natural gas shortages and price spikes during the upcoming winter months resulting from the unprecedented and unpredictable geopolitical environment Rain Carbons European footprint is essential to the companys global operations and these decisions are being made be taken to ensure the long-term viability of operations Additionally the company is closely monitoring its suppliers and customers as some of them are taking similar actions that could indirectly or directly impact operations as well Any measures taken are expected to be temporary and Rain Carbon is fully committed to returning to full operations when the situation improves