Şişecam Group makes an offer to acquire its second flat glass plant in Italy

Şişecam Group makes an offer to acquire its second flat glass plant in Italy
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Şişecam has submitted an offer for the acquisition of the Sangalli Group’s Sangalli Manfredonia facilities in southern Italy.

In addition to new investment projects, Şişecam Group continues to seize inorganic growth opportunities. Europe’s largest flat glass producer Şişecam has submitted an offer for the acquisition of the Sangalli Group’s Sangalli Manfredonia facilities in southern Italy, in a move to own a second flat glass plant in the country. Şişecam Group paid around EUR 85 million in 2016 to acquire the same group’s Sangalli Porto Nogaro facilities in northern Italy.

Şişecam Group Vice Chairman and CEO Prof. Ahmet KırmanCommenting on the acquisition offer, Şişecam Group Vice Chairman and CEO Prof. Ahmet Kırman made the following statement: “We expect strategic benefits in terms of our European flat glass operations by acquiring the Sangalli Manfredonia plant, which enjoys a favorable geographical location and offers an annual production capacity of 190,000 tons. The Porto Nogaro plant, which we acquired in November 2016 has made a significant contribution to our competitiveness in the European market. If we finalize the acquisition operation for the Sangalli Manfredonia plant, we will further consolidate our European leadership while doubling our flat glass production capacity in Italy. Our group is currently the largest Turkish investor in Italy, and completing the planned acquisition will further improve that leading position, and we will also become one of the largest flat glass producers of Italy.”

A leading global player in all main areas of the glass industry including flat glass, glassware, glass packaging and glass fiber, as well as the soda and chromium compounds businesses, Şişecam Group continues to seize inorganic growth opportunities in addition to new investments.

Currently the largest flat glass producer of Europe, the group now made a move to own a second flat glass factory in Italy, after acquiring the Sangalli Porto Nogaro plant in 2016.

ŞişecamTrakya Cam Sanayii A.Ş., a Şişecam Group company, has submitted an offer as part of the tender for the sale of Italy-based flat glass producer Sangalli Group’s Sangalli Manfredonia plant in Monte Sant’Angelo. The tender process is expected to be completed in the coming months.

The 190,000 tons/year flat glass plant in southern Italy also operates a 4 million m2/year lamination line, a 4 million m2/year coating line, and a 1.5 million m2/year satin line. In 2016, Şişecam Group acquired the Sangalli Group’s Sangalli Porto Nogaro plant in northern Italy for around EUR 85 million.

Commenting on the offer, Şişecam Group Vice Chairman and CEO Prof. Ahmet Kırman said: “We are active in the four main segments of flat glass, glassware, glass packaging, and chemicals. We are aware that we cannot achieve our strategic targets through organic growth only. Thus, inorganic growth is important for us, especially outside Turkey. In accordance with our investment policy focusing on sustainable growth and high performance, we make continuous efforts to seize all potential opportunities including acquisitions, joint ventures and other forms of cooperation. Our offer for the Italian flat glass producer Sangalli Manfredonia is a result of these proactive and careful efforts.”

“We will further consolidate our European leadership while doubling our flat glass production capacity in Italy”

Stating that Şişecam Group was engaged in production in 13 countries Ahmet Kırman added: “We have been active in the Italian chemicals business through Cromital SpA for many years. In 2016, we added flat glass to our Italian business by acquiring Porto Nogaro. This purchase generated significant synergies with our flat glass operations in Bulgaria, thus considerably contributing to our competitiveness in Europe. We expect strategic benefits in terms of our European flat glass operations by acquiring the Sangalli Manfredonia plant, which enjoys a favorable geographical location and offers an annual production capacity of 190,000 tons. If we finalize the acquisition operation for the Sangalli Manfredonia plant, we will further consolidate our European leadership while doubling our flat glass production capacity in Italy. Our group is currently the largest Turkish investor in Italy, and completing the planned acquisition will further improve that leading position, and we will also become one of the largest flat glass producer of Italy.”

“In addition to its 190,000 tons/year flat glass production capacity, Sangalli Manfredonia plant also offers lamination and coating lines. The planned acquisition of the Manfredonia plant will further improve the competencies of our Italian flat glass operations. These lines will allow us to expand our product range, and become the largest architectural glass producer in the Italian market,” Kırman added. 

600450 Şişecam Group makes an offer to acquire its second flat glass plant in Italy glassonweb.com

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