Şişecam Completes Process to Become a Partner in ICRON

Şişecam completes partnership process with ICRON, Turkish technology company providing operational and strategic decision optimization services. Şişecam's fully owned subsidiary Şişecam Investment B.V. completed its share purchase from Turkish technology company ICRON through a closing general assembly held on 15 January 2024. The Şişecam Investment B.V. General Assembly was attended by Şişecam Board of Directors Chairman and Authorized Member Prof. Dr. Ahmet Kırman, Şişecam General Manager Görkem Elverici, ICRON Founding Partner A. Tamer Ünal, ICRON Board Chairman and CEO Gürer Ünal, and ICRON Board Member Ahmet Ertuğrul. As a result of the transaction, ICRON's 3 percent stake was acquired by Şişecam Investment B.V. for USD 3 million. Simultaneously with this share purchase, a capital increase decision was made for ICRON amounting to USD 5 million, to be subscribed solely by Şişecam Investment B.V. Following this capital increase, Şişecam Investment B.V.'s stake in ICRON will rise to 15.66 percent. Şişecam signed a letter of intent in the first half of 2023 to invest in ICRON, which provides operational and strategic decision optimization services to various sectors, and announced in October 2023 that it had reached an agreement on partnership with ICRON. Under the contract, which was also approved by the Competition Authority, Şişecam holds a purchase option right that will allow it to increase its total stake in ICRON to up to 49 percent in the coming period. Through this partnership, Şişecam's first investment in software technologies, the company aims to achieve growth with high-potential ICRON and elevate operational excellence and optimization approaches in its current operations to the next level. ICRON, which was included in Gartner's 2023 "Magic Quadrant for Supply Chain Planning Solutions" list of the world's leading 20 firms, is expected to contribute to both operational and financial performance through Şişecam's reinforced digital infrastructure and quality approach that comprehensively meets current needs.