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With respect to a resolution taken by the BoD on 19 July 2022, Şişecam aims to invest in a new frosted glass furnace and a new line with energy glass processing capacity, to be built in Mersin/Tarsus, within the site of its 400K ton/year greenfield flat glass investment announced in 2021. With an estimated cost of approximately 3.4 Billion TL (185 Million EUR) including working capital needs, 180K tons/year capacity-frosted glass furnace and 20 Million m2/year capacity-energy glass processing line are planned to be commissioned by the end of 2024. Upon its completion, Şişecam's Turkey based-frosted glass production capacity will increase to 260K tons/year, which will allow us to nourish our leading position in the rapidly growing Turkish energy glass market as well as to further strengthen our competitiveness in evaluating export opportunities by our advanced production infrastructure and competence.
The press release addressing the new frosted glass furnace and the new line with energy glass processing capacity investments can be found attached. |
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.