Turkish Glassmaker Plans 2 More Factories in Bulgaria

Date: 24 June 2005
Source: Novinite.com

Date: 24 June 2005

Turkish investor Sisecam intends to construct two factories for the production of float glass and mirrors in the town of Targovishte, north-east Bulgaria, where it already has facilities.

The plans follow an agreement concluded between Bulgarian government and the company Trakya Glass Bulgaria on the implementation of a priority investment, signed on 9 April 2004.

Trakya Glass Bulgaria is a subsidiary of the Turkish holding Sisecam. It has received the recognition of major International Investor of Year 2004 for a green-field investment of EUR 18.1 M.

The large investment project was launched in early July 2004 by Prime Minister Simeon Saxe-Coburg and his Turkish counterpart Recep Tayyip Erdogan.

The Turkish company started the construction of the first conveyor line for the production of sheet glass in the Balkans with investments standing at USD 160 M.

The construction of the new facilities will result in the opening of more than 700 new jobs. The company's management plans to turn the factories into a regional leader in terms of the production of sheet glass. Some 85% of output is expected to be exported to EU member states.

With the opening of the two new factories, planned for launch in the second quarter of 2006, the total investment of Sisecam in Bulgaria will reach USD 220 M.
600450 Turkish Glassmaker Plans 2 More Factories in Bulgaria glassonweb.com

See more news about:

Others also read

MORE...

Emirates Glass wins major supply contract for Palm Jumeirah
Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
ISRA Receives Major Display Glass Inspection Order
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Rexam, buyout firms to bid for Calmar-sources
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
Company to close lime plant in Carey next month
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
China glass import a cheaper option for Amritsar firm
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
Corning, AGC Glass-substrate Capacity Expansion Projects Unit: 1 furnace Company Location 2004 2005 2006 Corning U.S.
Japan 1 2 1 S. Korea 6 6 3 Southern Taiwan 4 2 0 Central Taiwan 0 4 2 AGC Japan 0 1 1 Taiwan (Yunlin) 1 1 1 Source: PIDA (Photonic Industry & Technology Development Association) Taiwan TFT-LCD Panel Makers Happy to See Substrate-price Falls in 2006 Taipei, Dec. 27, 2005 (CENS)--Both of the world's top-two glass-substrate makers are actively expanding their production capacity in Taiwan, which is expected to cut substrate transportation time and cost for local thin film transistor-liquid crystal display (TFT-LCD) panel makers and boost production efficiency, according to Michael Wang, project manager and senior analyst of Taiwan's PIDA (Photonic Industry & Technology Development Association).According to Wang, Asahi Glass Co. (AGC) of Japan has solved problems in lowering the defect-free rate for the production of fifth- and sixth-generation (5G, 6G) glass substrates, and is expected to tap the market with products with higher price competitiveness in 2006 to grab more market share in the 6G substrate businessIn addition, Wang added, the aggressive capacity added by both Corning of the U.S., the world's No. 1 substrate supplier, and AGC, the No. 2, will lead to price drops for glass substrates and will especially benefit TV panel makers such as AU Optronics Corp. (AUO) and Chi Mei Optoelectronics Corp. (CMO) in TaiwanCurrently, Wang pointed out, a 6G substrate is priced at about 27,000 to 30,000 Japanese yen, about 1,000 to 2,000 yen lower than in the third quarter of 2005.

Add new comment