GREECE (From news reports) -- The management of the Sonoco Hellas paper mill announced to its 98 employees on Tuesday that it is closing its two facilities in Greece definitively on June 1.

The subsidiary of the American giant Sonoco Alcore is shutting down units in Thessaloniki and Kilkis, 26 years after the acquisition of the old EVIEN textile factory in Thessaloniki. Employees have been told that a voluntary exit program will be implemented, without providing further details.

High energy costs also seem to have played a role in the shutdown. Although it had invested in self-generated electricity, it was unable to connect to the grid due to a lack of grid capacity.