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English
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oda_MaterialEventDisclosureGeneralAbstract|
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Evet (Yes)
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Hayır (No)
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oda_DateOfThePreviousNotificationAboutTheSameSubject|
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20.07.2022
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Hayır (No)
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oda_ExplanationSection|
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At the BoD meeting held on 19/12/2022, annual production and processing capacity increase decisions have been taken on the new frosted glass furnace and the new energy glass processing line investments, which were publicly disclosed on 20/07/2022.
With the objectives of supporting its leading position in the rapidly growing Turkish energy glass market, enlarging its export capability, and strengthening its competitive position in domestic and international markets through cost advantages to be attained, Şişecam targets to increase annual production capacity of the new frosted glass furnace investment from 180K tons to 244K tons and the energy glass processing line from 20 Million m2 to 26.6 Million m2. Total cost of the investments including the capacity additions is anticipated as 228 Million EUR, inclusive of working capital requirements. As a result of these investments to be taken online in Mersin/Tarsus, Şişecam's Turkey-based frosted glass production capacity is expected to reach 324K tons/year by the end of 2024.
The relevant press release can be found attached.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.