The Sisecam group is set to unite all its operations into one entity, following approval by shareholders.
The Turkish organisation said it aimed to simplify the structure of its business by merging its four publicly listed companies Trakya Cam, Anadolu Cam, Soda Sanayii and Denizli Cam, as well as Paşabahçe Cam into one single listed corporation.
The merger plan was approved at the Extraordinary General Assembly meetings held on August 26-28, 2020.
Prof. Ahmet Kırman, Şişecam Group Vice Chairman and CEO, said the merger of all group operations under one entity will bolster Şişecam’s competitive edge globally.
“We see Şişecam's merger as a historic milestone in line with our long-term strategies and competitive goals in global markets.”
The merger process is expected to be completed by the end of September pursuant to relevant legal and regulatory provisions.