Şişecam’s net sales rose to TRY 95 Billion in the first 9 months of 2023

Date: 30 October 2023
Source: Şişecam
Şişecam’s net sales rose to TRY 95 Billion in the first 9 months of 2023
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Şişecam

Date: 30 October 2023

Şişecam reports investment spending of TRY 11,9 Billion in the first 9 months of 2023

Şişecam announced financial results for the first 9 months of 2023. In the nine-month period, Şişecam's consolidated net sales totaled TRY 95 Billion (USD 4,3 Billion). International sales – comprising the total of exports made from Türkiye and sales from foreign production – accounted for 64% of consolidated sales. Şişecam's total investments in the same period amounted to TRY 11,9 Billion (USD 534 Million) while exports totaled USD 814 Million. Şişecam produced 3,9 Million tons of glass, 3,4 Million tons of soda ash, and 2,8 Million tons of industrial raw materials in the same period.

Automotive glass line investment in Lüleburgaz.

Şişecam continuously invests in projects that aim to bolster its growth, and Q3 2023 was no exception. The company renovated and upgraded our flat glass furnace with the latest technologies with a cold repair investment of about USD 56 Million In India, where it employs 264 people. Şişecam also completed the cold repair process for its glassware furnace in Egypt. This investment boosted the company's glassware production capacity in the country to 35,000 tons per year. In September, Şişecam started operating its first float line dedicated to automotive glass in Lüleburgaz, following an investment of nearly USD 190 Million. The new line is designed to achieve high efficiency, expand production capacity, and boost production of thin glass also. This line will create 114 additional jobs and boast an annual capacity of 200 thousand tons.

Meanwhile, Şişecam's ongoing investments are moving forward. Construction of the TR9 float line in Tarsus – one of the top five flat glass investments globally in terms of capacity – and cold repair and capacity expansion work of the TR1 float line in Lüleburgaz are ongoing. Currently, Şişecam is investing in glass packaging facilities in Eskişehir and Hungary. These new facilities aim to meet the fast-growing demand in the glass packaging market in Türkiye and around the world. Soda ash investments in the US are also proceeding as planned.

Şişecam’s growth journey is focused on data, innovation, and digitalization, Şişecam, which signed a letter of intent to invest in ICRON a Turkish technology company offering operational and strategic decision optimization- finalized its partnership deal with ICRON in October. With its first investment in software technologies, Şişecam aims to grow with ICRON and take its current operational excellence and optimization approach to the next level.

Prof. Dr. Ahmet Kırman received a prestigious award in Como, Italy.

Şişecam Chairman and Executive Member of the Board of Directors Prof. Dr. Ahmet Kırman was named 'Glass Person of the Year 2023' for his contributions to advance the development of the global glass industry. This prestigious award, widely known as the 'Oscar' of the glass industry, was presented to Prof. Dr. Kırman by the Phoenix Award Committee at a special ceremony held in Como, Italy. Lincoln Brown, Chairman of the Phoenix Award Committee, presented the award to Prof. Dr. Ahmet Kırman at a special event attended by leaders of the business community and representatives of the glass industry. Since 1971, this award which is one of the most prestigious awards of the glass industry, has been presented to scientists, designers, engineers, and businesspeople who have supported and led the development of glass in key fields, such as R&D, product design and engineering, manufacturing, marketing, and sales.

Şişecam’s net sales rose to TRY 95 Billion in the first 9 months of 2023

600450 Şişecam’s net sales rose to TRY 95 Billion in the first 9 months of 2023 glassonweb.com

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