Şişecam Plans to Make a New Investment in Europe

Şişecam plans to make a new investment in Europe. Şişecam will establish a factory in Hungary.

Şişecam announced that it has decided to establish a glass packaging factory in Hungary with an investment of 255 million Euros. In the statement made by the company to the Public Disclosure Platform (KAP), the first glass packaging factory in Europe with two furnaces and an annual net production capacity of 330 thousand tons, worth approximately 255 Million Euros, including working capital requirements, in order to evaluate the opportunities in the European market at the company's board meeting. It was noted that the investment was decided to be made in Hungary. According to the statement, it was decided to establish a company with 100% shareholding in Hungary for the purpose of realizing the investment. It was explained that the first furnace of the company's first glass packaging facility investment in Europe will start operating in 2023 and that the facility aims to reach full capacity by 2025. Evaluating this initiative of the company, Şişecam Chairman of the Board Prof. Dr. Ahmet Kırman stated that the European footprint in the glass packaging market has been expanded, so that they will significantly contribute to the strengthening of the country's presence in the global glass trade.