Turkey's Sisecam with Biggest Greenfield Investment in Bulgaria

Turkey's Sisecam is to build in Bulgaria a production line for flat glass, making the biggest greenfield investment in the country.

This was announced by Deputy Prime Minister and Economy Minister Niolay Vassilev during his meeting with representatives of Turkey's giant Sisecam.This will be the first factory of this type in Southeastern Europe.The investment will be launched in 2003 and two years later the factory is expected to start operations.Alev Yaraman, Executive Vice President, Chief Executive Flat Glass, handed Minister Vassilev a letter of intent during the meeting. Deputy Economy Minister Nikola Yankov and Pavel Ezekiev, chairman of the Bulgarian Foreign Investment Agency also were present.

Sisecam holding's daughter company Trakiya, the only producer of flat glass in Turkey, will be in charge of the investment project. The company holds 3% share of the world and 9% share of the European capacity for flat glass production.

The initial investment of the Turkish giant is set at USD 100 M, while the total amount of investments will reach USD 170-180 M.

The factory will have an annual capacity of 200,000 tonnes.

The investment is expected to have a direct impact on the growth of the Bulgarian economy, the Economy Ministry said in a statement circulated to the press.

600450 Turkey's Sisecam with Biggest Greenfield Investment in Bulgaria glassonweb.com
Date: 26 April 2003
Source: Novinite.com

See more news about:

Others also read

Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.

Add new comment