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At the Board of Directors' meeting held on March 01, 2024, it has been decided to invest in a total of three new coated glass lines, one each in our ongoing investment in Turkey Tarsus flat glass facility and in our existing flat glass facilities in Northern Italy and Bulgaria. Şişecam aims to continue its value-creating investments with a focus on high operational efficiency and optimization in all countries and geographies it operates. Accordingly, through new coated glass line investments, it is aimed to meet the increasing demand for coated glass in the flat glass industry, maintain a competitive position through enhanced operational efficiency and an expanded product range, and create higher value for end-users by increasing the production volume of value-added products. These investments, offering a sustainable value proposition for end-consumers, will transform flat glass products into insulated architectural glass products. New coated glass line investments; - with an annual capacity of 7 million m2/year at our Tarsus flat glass facility, - with an annual capacity of 6.5 million m2/year at our North Italy flat glass facility, - with an annual capacity of 6 million m2/year at our Bulgaria flat glass facility, with an expected total investment cost of 114 Million USD including working capital requirements, are planned to be commissioned in 2025. Thus, it is targeted for Şişecam to reach a total of 7 architectural glass coating lines and to increase its existing average annual capacity based on product mix from 22 million m2 to 41.5 million m2 worldwide. Further material developments will be announced to our investors in due course within the framework of the relevant legislation. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail. |
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.