Turkish Şişecam to invest $ 310 million in glassworks in Hungary
In an effort to further bolster its global expansion goals, Turkish glass maker Şişecam is establishing a glass packaging factory in Hungary with an investment of 255 million euros ($ 310 million).
The two-kiln facility will have an annual net production capacity of 330,000 tonnes, according to a statement sent to Turkey’s Public Disclosure Platform (KAP) on Monday.
The first furnace will start operating in 2023 and the facility will reach full capacity by 2025.
President Ahmet Kırman said that Europe offers great opportunities for rapid development of the glass manufacturing industry and their business.
“The investment will meet the growing demand for glass packaging in Hungary and (in other countries) in Europe,” he said.
He added that Şişecam has 10 production facilities in four countries, with an annual production capacity of 2.6 million tons.
Kırman said Şişecam continued to invest despite the coronavirus pandemic and the company’s flat glass production capacity in Turkey exceeded 2 million tonnes.
“We plan to increase the flat glass production capacity in Turkey by 25% to over 2.5 million tonnes by the end of 2024,” he added.
Founded in 1935, Şişecam operates in the fields of flat glass, glassware, glass packaging and chemicals, with nearly 22,000 employees in 43 factories in 14 countries. It sells its products in more than 150 countries.