Şişecam becomes Europe’s largest flat-glass manufacturer

Şişecam has acquired all assets of Italy-based flat-glass manufacturer Sangalli for EUR 84.7 million.

Şişecam Group announces yet another move towards global growth. Group member Trakya Cam Sanayii A.Ş. has acquired all assets of Italy-based flat-glass manufacturer Sangalli Vetro Porto Nogaro for EUR 84.7 million.

By acquiring Sangalli, which has an annual production capacity of 220,000 tons, Şişecam has become the largest flat-glass manufacturer of Europe in terms of capacity.

Prof. Ahmet Kırman, Deputy Chairman and CEO of Şişecam Group, stated that the acquisition in Italy would create synergies with the group's flat-glass operations in Bulgaria, and added the following: "The Italian operation will greatly contribute to our competitiveness especially in the West European flat-glass market in terms of production capacity and logistics."

Şişecam becomes Europe’s largest flat-glass manufacturer

Şişecam Group, a global player in all main segments of the glass industry, i.e. flat-glass, glassware, glass packaging and fiberglass, as well as soda and chromium compounds, has announced a fresh move towards global growth.

Group member Trakya Cam Sanayii A.Ş. has acquired all assets of the Italy-based flat-glass manufacturer Sangalli Vetro Porto Nogaro for EUR 84.7 million.

Prof. Ahmet Kırman, Deputy Chairman and CEO of the Şişecam Group, made a statement following the acquisition, pointing out that they were active in all four main segments of the industry, namely flat-glass, glassware, glass packaging and chemicals.

Kırman added: "We are aware that we cannot reach our strategic targets through organic growth only.

Thus, inorganic growth, especially abroad, is important. In accordance with our investment policy based on sustainable growth and high performance, we make constant efforts to use all potential opportunities including acquisition, joint ventures and other cooperation possibilities.

The acquisition of Sangalli Vetro Porto Nogaro, a flat-glass manufacturer active in Italy, is a fruit of these proactive and diligent efforts."

Pointing out that Şişecam Group was the third, fourth and fifth largest global producer in glassware, glass packaging and flat-glass, respectively, Kırman said:

"We have acquired a facility with an annual production capacity of 220,000 tons in flat-glass and 5 million m2 in laminated glass. Thus, our group has reached another milestone in the European flat-glass market in terms of production capacity, and has become the largest flat-glass manufacturer of Europe."
 

 

“This will add to our competitiveness in Western Europe"

Emphasizing the fact that Şişecam Group currently had production activities in twelve countries, Kırman said: "In Italy, we have been active for years in the field of chemicals with our Cromital SpA facility.

Flat-glass is now being added to our operation fields in Italy thanks to Sangalli. This acquisition will create synergies with our flat-glass operations in Bulgaria. The Italian operation will greatly contribute to our competitiveness especially in the Western European flat-glass market in terms of capacity and logistics."

Explaining that Şişecam Group provided inputs for various industries such as construction, automotive, energy, white goods, furniture and agriculture through its flat-glass activities, Kırman further said:

"We have added Italy to our overseas production network, which previously included Bulgaria, Romania, Germany, Slovakia, Hungary, Russia, India and Egypt. The annual flat-glass capacity of our group, including Turkey, has exceeded 2.5 million tons."

600450 Şişecam becomes Europe’s largest flat-glass manufacturer glassonweb.com
Date: 16 November 2016
Source: www.sisecam.com.tr

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