Şişecam reported net sales of TL 32 billion ($2.3 billion) in 2021.
In its latest financial note the Turkish glass manufacturer also said it had invested TRY 2.6 billion in the reporting period.
In 2021, Şişecam produced 5.6 million tons of glass, 2.3 million tons of soda ash, and 4.5 million tons of industrial raw materials.
Chairman of the Board Prof. Dr. Ahmet Kırman indicated Şişecam strengthened its position as a playmaker during the year.
“We further contributed to the economic growth of our geographies and the driver sectors that we serve, with our products, investments, and employment opportunities.
"We are always ready to effectively respond to risks that arise in an environment dominated by global uncertainty and to capitalise on investment opportunities. We passed all the stress tests we have faced.
“The true extent of the pandemic effect remains uncertain even today. However, Şişecam will always conduct its activities by leveraging its strong competencies while creating sustainable value for all its stakeholders.”
In 2021, Şişecam reported a planned capital investment of two new float lines worth TRY 5.2 billion (€344 million) in architectural glasses and automotive glass. Furthermore, the company announced its plans to commission a new glass packaging facility in Eskişehir.
The total value of new investment plans announced for Turkey in 2021 exceeded TRY 6.5 billion (€428 million).
In 2021, Şişecam and its partner Ciner Group took their natural soda ash joint venture, founded in 2019, to a new phase with a major leap forward.
Under the new investment plan, Şişecam will become a 60% shareholder by acquiring an additional stake in the Pacific Project.
In addition, Şişecam will purchase a 60% stake in the Atlantic Project and Ciner Resources, the existing natural soda ash production facility of Ciner Group in Wyoming, USA.
Ciner Resources Wyoming Plant has been in production since 1962 with a current capacity of ~2.5 million metric tons/year.
The Pacific and Atlantic development projects have a targeted combined production capacity of ~5 million metric tons/year.
These facilities are expected to start production in 2025 and are planned to gradually reach full capacity by 2027.
With these large-scale investments, Şişecam's controlled soda ash production capacity is set to exceed 10 million metric tons per year.