Venvidrio, Venezuela’s state-run glass company that will operate the former Guardian Industries float plant seized by the government last year, could be on the brink of bankruptcy, according to a report from an independent newspaper.

Venvidrio was created in 2010 from the takeover of another U.S.-based glass company, Owens-Illinois. Its primary focus is making glass bottles and jars for food and other industries.

According to El Carabobeno, 90 percent of Venvidrio’s operational capacity is paralyzed at its main plant in Los Guayos. Nine of the 11 furnaces are suffering heat damage due to the improper use of materials from Guardian de Venezuela. Raw material for flat glass requires a higher temperature than material for container glass, which has less magnesium oxide and sodium oxide and more silica, calcium oxide and aluminum oxide.

Compounding the problems for the glass industry in Venezuela is a lack of soda ash, which has to be imported.

The country’s ongoing economic meltdown has hampered many industries from buying raw materials for production. The government declared a state of emergency in May 2016 and ordered the state seizure of factories that have closed because they can’t get raw materials. For example, Venezuela seized a Kimberly-Clark plant in July 2016 after the U.S. diaper maker shut down because of deteriorating economic conditions in the country.

According to El Carabobeno, 600 Venvidrio workers have been dismissed.

Last month, Venezuela’s Labor Ministry gave Venvidrio the responsibility for restarting operations at the Guardian plant in Monagas state, according to reports in Venezuela’s media. Previously, President Nicolas Maduro’s regime had turned the plant over to the firm’s workers, who were to operate it under government supervision for one year.