Turkey’s Sisecam Group has acquired a 49.8% share of its Indian subsidiary HNG Float Glass Limited (HNGFL).
The Indian group had owned the remaining half of HNGFL and has been a partner with the company since 2013.
Sisecam now owns 99.99% of the Indian company.
Şişecam Group Deputy Chairman and General Manager Prof. Dr. Ahmet Kırman said: “India, which is among the most attractive markets in the world in terms of potential for growth, has an important potential with glass demand rising parallel to the level of prosperity.
“This move will accelerate our adoption of strategic initiatives by becoming our main shareholder in our Indian market investments.”