Şişecam Investment B.V., a wholly-owned subsidiary of Şişecam, purchased shares in the Turkish technology company ICRON at the closing general meeting held on January 15, 2024.
Şişecam Investment B.V. General Meeting was attended by Şişecam Chairman and Executive Member of the Board Dr. Ahmet Kırman, Şişecam CEO Görkem Elverici, ICRON Founding Partner A. Tamer Ünal, ICRON Chairman and CEO Gürer Ünal and ICRON Board Member Ahmet Ertuğrul.
Some 3 percent of ICRON’s total shares were purchased by Şişecam Investment B.V. for USD 3 million. Simultaneously with the share purchase, it was also decided to increase ICRON’s total capital by USD 5 million, with participation solely by Şişecam Investment B.V. As a result of this capital increase, Şişecam Investment B.V.’s stake in ICRON will rise to 15.66 percent.
In the first half of 2023, Şişecam signed a letter of intent to invest in ICRON, a provider of operational and strategic decision optimization services to various industries. In October 2023, Şişecam announced that it had reached a partnership agreement with ICRON. Under the agreement approved by the Turkish Competition Authority, Şişecam also holds an option to purchase additional shares in ICRON – allowing it to raise its total stake in the company up to 49 percent – in the future. Şişecam’s goal with this partnership, its first investment in software technologies, is to grow in tandem with ICRON, a high potential technology services provider. In addition, Şişecam aims to take its operational excellence and optimization approach in its current business activities to the next level with ICRON.
In recognition of its excellence, ICRON was recognized in Gartner’s 2023 “Magic Quadrant for Supply Chain Planning Solutions.” This list of the global top 20 supply chain technology vendors was compiled by Gartner, a world-renowned technology research and consultancy firm.
ICRON is expected to contribute to Sisecam’s operational and financial performance with its already established digital infrastructure and its quality approach that fully meets today’s evolving technological needs.