Şişecam has entered into a partnership agreement with ICRON

Date: 23 October 2023
Source: Şişecam
Şişecam has entered into a partnership agreement with ICRON
Photo source
Şişecam

Date: 23 October 2023

In the first half of the year, Şişecam signed a letter of intent to invest in ICRON. Now, Şişecam is taking this move one step further.

Şişecam has entered into a partnership agreement with ICRON.

As an 88-year-old, long-standing industrial company, Şişecam gains valuable experiences through its smart technologies and competent human resources and combines these with transformation, while sustaining its growth journey through promising investments. Accordingly, in the first half of the year, Şişecam signed a letter of intent to invest in ICRON, a Turkish technology company that provides operational and strategic decision optimization services to various sectors. Now, it is taking this investment move one step further. Şişecam has entered into a partnership agreement with ICRON.

With this partnership, which is Şişecam's first investment in the field of software technologies, Şişecam aims to grow with ICRON, and take its operational excellence and optimization approach to its current operations to the next level. The strong digital infrastructure and its service quality that fully meets the needs of the day will also contribute to its financial performance over time.

As part of the agreement, Şişecam's initial partnership in ICRON will be 15.7 percent, and the final rate of partnership will be 33.1 percent through gradual investments. Şişecam will also hold a share call option that will later allow the company to increase its total share in ICRON to up to 49 percent. Following the agreement, the Şişecam-ICRON partnership transactions will be finalized after the competition board approval processes and other closing procedures.

600450 Şişecam has entered into a partnership agreement with ICRON glassonweb.com

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