Şişecam Becomes the Sole Shareholder of Şişecam Çevre Sistemleri

Şişecam Becomes the Sole Shareholder of Şişecam Çevre Sistemleri
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Date: 25 April 2023

Şişecam has exercised its purchase option from the European Bank for Reconstruction and Development (EBRD) for its 10% stake in Şişecam Çevre Sistemleri.

Şişecam has become the sole shareholder of Şişecam Çevre Sistemleri. The company was founded by Şişecam and the European Bank for Reconstruction and Development (EBRD) in 2016. Şişecam Çevre Sistemleri has supported the institutionalization of Türkiye's glass waste collection and recycling industry over the past seven years. Aiming to rank among the world's top three manufacturers in its main fields of activity and pursuing its investments accordingly, Şişecam became the sole shareholder of the company by exercising the option to purchase EBRD's 10% stake in Şişecam Çevre Sistemleri.  

Founded under a partnership between Şişecam and EBRD, Şişecam Çevre Sistemleri has supported industry players on the way to institutionalization by focusing on ecosystem financing. The joint venture company aimed to establish modern facilities that can produce higher quality cullet. Şişecam Çevre Sistemleri has mediated glass recycling companies in Türkiye to invest in infrastructure and establish state-of-the-art facilities. Şişecam also played an active and pioneering role in the production of quality cullet by establishing its own licensed facility.  

Şişecam aims to boost the use of external cullet in its glass packaging production to 35% percent.

A strong and well-established player in the glass industry, Şişecam has conducted glass recycling activities and realized major circular economy projects for many years. These various efforts are closely aligned with Şişecam's concrete goals under its CareforNext Sustainability Strategy. Operating production facilities in 14 countries on four continents, Şişecam aims to boost the rate of external glass cullet used in its glass packaging production to 35% by 2030. In the energy-intensive glass industry, energy consumption can be lowered by using cullet, which reduces the need for natural raw materials. The use of cullet from recycling waste glass reduces carbon emissions caused by a bottle throughout its entire life cycle by more than 50%, depending on the rate of the cullet used.  

Şişecam has been implementing one of Türkiye’s most comprehensive sustainability and social responsibility projects with its "Glass and Glass Again" project since 2011. With the aim of creating a societal behavior change and supporting the transition to recycling, Şişecam has played an active role in the recycling of 2 million tons of glass cullet through Glass and Glass Again. Through sustainability-focused projects and investments, Şişecam aims to extend the benefits of glass recycling to the countries in which it operates. With its broad global presence, Şişecam plans to increase its positive impact in this field. Şişecam continues to be an effective stakeholder working towards a better future with its investments that align with its sustainability goals. 

Glass – a highly valuable material for a sustainable future with its 5,000-year history – offers the most attractive solutions for the needs of the planet with its 100% and infinite recyclability without losing any of its quality. The recycling of glass also promises great future potential. While this potential is expected to gain momentum with the introduction of the deposit refund system in Türkiye, new investments are projected to accelerate in the industry. As the sole owner of Şişecam Çevre Sistemleri, Şişecam will further support its ecosystem while leading the development and growth of the recycling industry with new investments in its facilities.


600450 Şişecam Becomes the Sole Shareholder of Şişecam Çevre Sistemleri glassonweb.com

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