Sisecam completed investments in Egypt, Turkey and India, it noted in its latest financial statement.
Reporting net sales of TRY 95 billion (US$4.3 billion) for the first nine months of 2023, Sisecam said its third quarter highlights included the completion of the cold repair process for its Pasabahce glassware furnace in Egypt.
This investment boosted the company's glassware production capacity in the country to 35,000 tons per year.
In September, Şişecam started operating its first float line dedicated to automotive glass in Lüleburgaz, following an investment of nearly $190 million.
The new line is designed to achieve high efficiency, expand production capacity, and boost production of thin glass also.
This line will create 114 additional jobs and boast an annual capacity of 200 thousand tons.
In Q3 it also renovated and upgraded our flat glass furnace with the latest technologies with a cold repair investment of about $56 million In India, where it employs 264 people.
Its ongoing investments are continuing. Construction of the TR9 float line in Tarsus – one of the top five flat glass investments globally in terms of capacity – and cold repair and capacity expansion work of the TR1 float line in Lüleburgaz are ongoing.
Şişecam is currently investing in glass packaging facilities in Eskişehir and Hungary. These new facilities aim to meet growing demand in the glass packaging market in Türkiye and around the world. Soda ash investments in the US are also proceeding as planned.
In the first nine months of the year, international sales accounted for 64% of Şişecam's total sales. Şişecam reported total investments of TRY 11.9 Billion ($534 million) and exports of $814 million in the same period.