Europe’s largest flat glass producer, Şişecam, has submitted an offer for the acquisition of Sangalli’s Manfredonia factory in Monte Sant’ Angelo, Italy.
Professor Ahmet Kirman, Şişecam’s Vice Chairman and CEO, said: “We expect strategic benefits in terms of our European flat glass operations by acquiring the Sangalli Manfredonia plant, which enjoys a favourable geographical location and offers an annual production capacity of 190,000 tones/year.
“If we finalise the acquisition operation for the Sangalli Manfredonia plant, we will further consolidate our European leadership while doubling our flat glass production capacity in Italy.”
Sangalli’s flat glass plant operates a 4 million m2/year lamination line, a 4 million m2/year coating line, and a 1.5 million m2/year satin line. This will be Şişecam’s second flat glass plant in Italy, after acquiring the Sangalli Porto Nogaro plant in 2016 for around €85 million.
Mr Kirman continues: “We are aware that we cannot achieve our strategic targets through organic growth only. Thus, inorganic growth is important for us, especially outside Turkey.”
Şişecam produces flat glass, glassware, glass packaging, glass fibre and holds soda and chromium compound businesses. As it’s investment policy focuses on sustainable growth and high performance, it will continue to seize inorganic growth opportunities, new investments, acquisitions and joint ventures.
Mr Kirman states: “The planned acquisition of the Manfredonia plant will further improve the competencies of our Italian flat glass operations.
These lines will allow us to expand our product range, and become the largest architectural glass producer in the Italian market.”