Şişecam Reported Investment Spending of TRY 2.6 Billion In 2021

Turkish glass manufacturer Şişecam announced its financial results for 2021. Şişecam’s 2021 consolidated net sales totaled $2.3 billion* while investment spending in the reporting period amounted to $190.7 million*. 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.

“Despite the global economic uncertainty caused by the ongoing pandemic, Şişecam maintained strong growth in 2021 [and] delivered a robust financial performance thanks to its advanced production capabilities, effective risk management, strong financial structure, digitalized infrastructure, and sound investment strategy. We have recorded many achievements in line with our sustainability and continuity-oriented strategy, supported by our management approach based on a common mindset. In the coming period, we will continue to implement our transformation projects that will move Şişecam forward into the future in line with our long-term goals and strategies. We aim to continue moving toward our global goals with our investment plans and strong management capability,” says Ahmet Kırman, chairman of Şişecam.

In 2021, the company reported a planned capital investment of two new float lines worth $381.5 million* in architectural glasses and automotive glass. It plans to commission a new glass packaging facility in Eskişehir. The total value of new investment plans announced for Turkey in 2021 exceeded $477 million*.

In 2021, Şişecam and Ciner Group announced they would co-invest $4 billion in the U.S. soda ash industry. As part of the new investment plan, Şişecam will become a 60% shareholder by acquiring an additional share in the Pacific natural soda ash development project. In addition, Şişecam will also purchase a 60% share in the Atlantic Project and Ciner Resources, the existing natural soda ash production facility of Ciner Group in Wyoming.

*indicates financial information converted to U.S. dollars from Turkish lira on February 15, 2022.

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