Şişecam Group Member Trakya Cam Sanayii A.Ş. Acquires Italian Manufacturer

Glass Magazine
November 14, 2016
COMMERCIAL, FABRICATION : FLOAT GLASS NEWS

Şişecam Group announced that its group member Trakya Cam Sanayii A.Ş. has acquired all assets of Italy-based flat-glass manufacturer Sangalli Vetro Porto Nogaro for a gross of 84.7 million euros, before reduction of deduction of debts. By acquiring Sangalli, which has an annual production capacity of 220,000 tons, Şişecam has the largest flat glass capacity in Europe, according to company officials in a release. 

Prof. Ahmet Kırman, Deputy Chairman and CEO of Şişecam Group, says that the acquisition in Italy would create synergies with the group's flat-glass operations in Bulgaria, and would increase the group's competitiveness, especially in the West European flat glass market in terms of production capacity and logistics. 

"We are aware that we cannot reach our strategic targets through organic growth only. Thus, inorganic growth, especially abroad, is important," says Kirman. "In accordance with our investment policy based on sustainable growth and high performance, we make constant efforts to use all potential opportunities including acquisition, joint ventures and other cooperation possibilities. The acquisition of Sangalli Vetro Porto Nogaro is a fruit of these proactive and diligent efforts."