Cote d’Ivoire: BRVM-Listed Filtisac Shuts Spinning Unit As Profit Falls

Filtisac SA will close its spinning workshop as the Ivorian packaging company restructures its jute business after a sharp drop in profit and cash flow.

The BRVM-listed company said the closure is part of a plan to rationalize its jute operations, which have been hit by higher production costs and supply problems. Instead of producing jute yarn in-house, Filtisac will buy ready-made spools.

A union said the decision will remove 58 jobs in the spinning workshop, with 26 additional layoffs…