Şişecam announced financial results for the first 3 months of 2024. Şişecam’s consolidated net sales totalled TRY 41 billion (USD 1.3 billion). International sales – comprising the total of exports made from Türkiye and sales from foreign production – accounted for 61 percent of consolidated sales. Şişecam’s total investments in the same period amounted to TRY 4.3 billion (USD 136 million) while exports totalled USD 262 million. Şişecam produced 1.3 million tonnes of glass, 1.2 million tonnes of soda ash and 0.87 million tonnes of industrial raw materials in the same period.
- In 2024, Şişecam entered the year with a decision to invest in three new coated glass lines with a total capacity of nearly 20 million square metres in Türkiye, Italy and Bulgaria. This investment project includes the ongoing construction of a flat glass facility in Tarsus, Türkiye.With an investment of USD 114 million, the new coated lines will bring Şişecam’s total number of glass coating lines worldwide to seven, the coated glass capacity will almost double to approximately 42 million square metres.
- Şişecam ignited its new glass packaging furnace in Eskişehir and put its glassware furnace into operation after cold repair. The additional capacity attained has propelled Şişecam to global leadership in glassware production. Şişecam Eskişehir Glass Packaging plant has now become the world’s largest integrated glass packaging production facility with 5 furnaces and 24 lines all on a single site.
- Şişecam has initiated actions for the second flat glass line investment in its Egyptian joint venture, Saint Gobain Egypt SAE. To facilitate this investment, Şişecam has completed the establishment procedures for a new company. Additionally, Şişecam announced its decision to invest in 175,000 tonnes per year incremental capacity in its Mersin soda ash facility in Türkiye. This investment, including working capital, is estimated to cost approximately USD 125.3 million, with the goal of commissioning it within 2026.
- The global confidence in Şişecam was reaffirmed by the demand for its Eurobond issuance. Şişecam has issued a total of USD 1.1 billion in Eurobonds, consisting of USD 500 million with a 5-year term and USD 600 million with an 8-year term, to international funds and financial institutions. These Eurobond issues received demand exceeding USD 3.5 billion. This marked the highest demand for the largest corporate bond issue in the history of the Republic of Türkiye.