Şişecam Group member Trakya Cam Sanayii A.Ş. acquired all assets of Italy-based flat glass manufacturer Sangalli Vetro Porto Nogaro for EUR 84.7 million ($91.81 million).
By acquiring Sangalli, which has an annual production capacity of 220,000 tons, Şişecam has become the largest flat glass manufacturer of Europe in terms of capacity, according to the company.
“The Italian operation will greatly contribute to our competitiveness especially in the West European flat-glass market in terms of production capacity and logistics,” says Ahmet Kırman, CEO of Şişecam Group.
Şişecam Group currently has production activities in 13 countries.
“In Italy, we have been active for years in the field of chemicals with our Cromital SpA facility. Flat-glass is now being added to our operation fields in Italy thanks to Sangalli,” says Kırman. “This acquisition will create synergies with our flat-glass operations in Bulgaria. The Italian operation will greatly contribute to our competitiveness especially in the Western European flat-glass market in terms of capacity and logistics.”