Şişecam Group is to invest €100 million in building a glass fiber production plant in Turkey.
The plant will have an initial capacity of 70,000 tons/year and will be commissioned in the second half of 2018.
Prof. Ahmet Kırman, Vice Chairman and CEO of Şişecam Group (pictured), stated: “The investment is a strategic decision to support the growth strategy, and the Group will continue to grow through new investments, new partnerships and acquisitions. "
He added that they have made a strategic investment decision in the field of glass fiber, which is the main component of many of Turkey's leading industries including the automotive and textile industries.
"Kaolinite and boron are among Turkey’s main raw materials and this investment will help turn domestic resources into value added products".
Şişecam has been operating in the field of glass fiber since 1974.
Prof. Kırman continued, "Şişecam has a leading position in starting and developing the Turkish composite industry, which has now reached a volume of €1.2 billion.
“It has recently gained further importance for the wind power, electronics, aviation, space and defense industries in addition to the leading industries of our country.
"We are the world's third largest manufacturer of glassware and the fifth largest manufacturer in glass-packaging and flat glass fields.
“Besides this, we are No. 1 in Europe in the field of flat glass.
“In addition to being the world leader in chromium chemicals, we rank among the top 10 soda producers of the world."
Şişecam has a growing global presence with more than 21,000 employees.
Globally it operates in 13 countries and its sales operations expands to 150 countries.