Şişecam acquires remaining half of Indian glassmaker

Published 25th June, 2018 by Greg Morris

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.”

Greg Morris

Glass International Editor

Greg Morris has been editor of Glass International and organiser of the Glassman conferences since 2012, specialising in glass packaging. Prior to this he spent five years working in newspaper journalism.