Şişecam has completed its acquisition of Sangalli Vetro Manfredonia facility in Italy.
Trakya Cam Sanayii, a Şişecam flat glass manufacturer, has invested €15.7 million in a second facility in Monte Sant’Angelo, Italy and doubled its production capacity in the country.
Ahmet Kirman, Vice President and CEO of Şişecam said: “With this acquisition, our Group, Italy’s largest Turkish investor, has become one of Italy’s largest flat glass producers and it has strengthened its leadership in Europe.
“Our competence and capacity in flat glass operation in Italy will continue to increase with the acquisition of the Manfredonia plant.
“We aim to expand our product range further by the help of those production lines, and we aim to be the largest manufacturer of architectural glass in Italy”.
The Sangalli Vetro Manfredonia is located in southern-Italy. It has a capacity of 190 thousand tonnes per year, a laminating line with 4 million m2 per year capacity, a coating line with 4 million m2 per year capacity and a satin coating line with 1.5 million m2 per year capacity.
Mr Kirman explained: “That acquisition has created synergy with our flat glass operations in Bulgaria and made a significant contribution to our competition capacity in Europe.
“Both with its geographical location and its production capacity, the Sangalli Vetro Manfredonia plant will provide strategic advantage in terms of our flat glass manufacturing activities in Europe."
Şişecam operates in 13 countries and continues to grow through investments and employment. It has been operating in the chemical field in Italy for many years with Cromital SpA, its production facility for chromium compounds. The company started to produce flat glass in Italy when it acquired the Sangalli Porto Nogaro plant in northern Italy in 2016.
Mr Kirman concluded: “In order to reach our global strategic goals, we are assessing both organic and inorganic growth opportunities.
“We are continuously working to assess all potential opportunities, including acquisitions, joint ventures and other collaboration opportunities, in line with our investment policy based on sustainable growth and high performance.
“The acquisition of the Sangalli Vetro Manfredonia plant in Italy is also a result of our long-term and value-creating sustainable growth approach and our work in this scope.”
Pictured: Şişecam flat glass facility in Italy