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Şişecam Will Invest 114 Million Dollars in Three New Coated Glass Lines

Written by Customer Service on . Posted in Public Companies.

Şişecam plans to invest 114 million dollars in three new coated glass lines. These cutting-edge lines, boasting a collective capacity of nearly 20 million square meters, will be located in Turkey, Italy and Bulgaria

Prof Dr Ahmet Kirman

Cavaliere Prof Dr Ahmet Kirman - Şişecam's Chairman and Executive Member of the Board
Cavaliere Prof Dr Ahmet Kirman – Şişecam’s Chairman and Executive Member of the Board

ISTANBUL, Turkey, March 04, 2024 (GLOBE NEWSWIRE) — Şişecam, a global player in the fields of glass and chemicals, has announced its decision to invest 114 million dollars in three new coated glass lines. These cutting-edge lines with a total capacity of almost 20 million square meters will be located in Turkey, Italy, and Bulgaria. Through these investments, Şişecam seeks to address the rising demand for coated glass within the flat glass sector. The Company aims to bolster its competitiveness by enhancing operational efficiency and diversifying its product range. Additionally, Şişecam aims to elevate the proportion of value-added products in its total production.

As part of the investments planned to commence operations in 2025, Şişecam will invest in a coated glass line with an annual capacity of 7 million square meters at its flat glass production facility under construction in Tarsus. Additionally, the Company will invest in a coated glass line with an annual capacity of 6.5 million square meters at its flat glass facility in Northern Italy. Şişecam will also invest in a line with an annual capacity of 6 million square meters at its flat glass facility in Bulgaria. These investments, totaling 114 million dollars including working capital requirements, will bring the total number of Şişecam’s glass coating lines to seven worldwide. The objective is to elevate Şişecam’s existing coated glass capacity, currently around 22 million square meters based on an average product mix across four different lines, to approximately 42 million square meters through these strategic investments.

Prof. Dr. Ahmet Kırman, Şişecam’s Chairman and Executive Member of the Board of Directors, commented on the new investment decision, saying: “Each strategic investment we undertake enhances our ability to grow and progress. Our most recent decision, aimed at addressing the rising demand for coated glass within the flat glass sector, marks a significant milestone. This initiative will almost double Şişecam’s production capacity for coated glass. While strengthening our leadership in the architectural glass market in Turkey, it will also facilitate our access to a broader customer base globally with higher competitiveness. These investments will elevate the share of high-value products within our total production volume and augment our product portfolio. Additionally, the investments will facilitate Şişecam in achieving a more flexible management of its supply chain, leading to heightened operational efficiency.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/72107f1f-be3a-43d4-a226-c40ad1886a91

 

CONTACT: Ayşegül Akyarlı
AAKYARLI@sisecam.com

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