Şişecam Group to Set Up Glass Fiber Production Plant with TRY 400 Million Investment

Şişecam Group, a global player across all core glass sectors including flat glass, household glassware, glass packaging and glass fibre, is accelerating its investments in 2017 as well.

Şişecam Group, one of Turkey's most established institutions, has decided to build a glass fibre production facility with an investment of approximately TRY 400 million.

Şişecam Group Vice Chairman of the Board of Directors and General Manager Prof. Dr. Ahmet Kırman, in a statement on the matter, noted that they have made a strategic investment decision in the glass fibre sector, which is a key input for Turkey's locomotive sectors, particularly automotive and technical textiles, saying, "Through our new investment, which will initially have an annual production capacity of 70 thousand tonnes, we aim to substitute Turkey's glass fibre imports and transform our local resources, particularly boron, into value-added products."

Emphasizing that Şişecam Group continues to grow through both new investments and partnership and acquisition moves, thereby creating value for Turkey, Kırman said, "Our Group, founded in 1935 with the mission of establishing and developing Turkey's glass industry, has reinvested its gains in our country over the more than 80 years that have passed and has become a recognized player in its field globally.

We are aware that the primary task for established institutions in the difficult period Turkey is going through today is to continue steadfastly with investment and production, and we have therefore made the decision to undertake another new investment. We believe this investment will become even more efficient by benefiting from the opportunities within the newly announced strategic incentives. We have confidence in Turkey and we believe we need to work harder than ever before in unity and solidarity," he said. Flat glass, household glassware, glass packaging and glass fibre, among all core glass sectors, as well as soda and chromium compounds, Şişecam Group, a global player in these business lines, is accelerating its investments in the new year as well. Şişecam Group has started the necessary work to build a glass fibre plant with a capacity of 70 thousand tonnes per year through an investment of approximately TRY 400 million. The new investment will be carried out by Soda Sanayii A.Ş. within Şişecam Group. Şişecam Group Vice Chairman of the Board of Directors and General Manager Prof. Dr. Ahmet Kırman, in a statement on the matter, drew attention to the fact that they are an internationally scaled Group with more than 21 thousand employees, production activities spanning 13 countries and sales reaching 150 countries, saying, "Today we are the third largest producer globally in household glassware, and the fifth largest in glass packaging and flat glass. We are also Europe's number one in flat glass. In addition to being the global leader in chromium chemicals, we are among the world's top 10 soda producers," he said.

"We have confidence in Turkey, and we continue to create value for our country"

Prof. Dr. Ahmet Kırman, expressing that the Group continues on its path with the aim of becoming one of the world's top three producers in its main areas of activity, noted the following: "Our Group continues to grow through both new investments and partnership and acquisition moves, thereby continuing to create value for our country. Our Group, founded in 1935 with the mission of establishing and developing Turkey's glass industry, has reinvested its gains in our country over the more than 80 years that have passed and has become a recognized player in its field globally. We are aware that the primary task for established institutions in the difficult period Turkey is going through today is to continue steadfastly with investment and production, and we have therefore made the decision to undertake another new investment. We believe this investment will become even more efficient by benefiting from the opportunities within the newly announced strategic incentives. We have confidence in Turkey and we believe we need to work harder than ever before in unity and solidarity."

"A strategic investment that will substitute imports and provide input to locomotive sectors"

Ahmet Kırman, noting that they have made a strategic investment decision in the glass fibre sector, which is a key input for Turkey's locomotive sectors, particularly automotive and technical textiles, said, "Turkey's glass fibre imports have exceeded 60 thousand tonnes annually. We anticipate that through our new investment we will substantially substitute these imports. One of our main raw materials is kaolin and the other is boron. We are proud of our work to transform our country's local resources into value-added products," he said.

"Şişecam has taken a pioneering role in the development of the composites sector"

Ahmet Kırman, noting that Şişecam Group has been operating in the glass fibre segment, which is one of the basic inputs of the composites industry, since 1974, continued as follows: "Şişecam has taken a pioneering role in the establishment and development of Turkey's composites sector, which has today reached a volume of TRY 4.1 billion. In addition to Turkey's locomotive sectors, it is of major importance for wind energy, electronics, aviation, space and defence industries in recent times. With our new investment, which is initially planned to have a production capacity of 70 thousand tonnes per year and is expected to be commissioned in the second half of 2018, we aim to create value for all sectors to which we provide input, particularly Turkey's composites sector."