Orora Hits 12-Year Low as Iran Conflict Shuts UAE Bottle Plant

Orora Ltd. shares slumped to a 12-year low after the Australian packaging company cut full-year guidance for its high-end bottle unit, citing Middle East conflict-related disruptions that halted production at its UAE plant.

Orora said its France-headquartered Saverglass unit had stopped making bottles at its Ras Al Khaimah facility due to shipping chaos and safety concerns for staff. The unit supplies bottles to brands including Grey Goose vodka.