Sisecam announced financial results for the first 3 months of 2024. In the three-month period, Sisecam’s consolidated net sales totaled TRY 41 billion (
In 2024, Sisecam entered the year with a decision to invest in three new coated glass lines with a total capacity of nearly 20 million square meters in Türkiye,
Eskişehir has become the world's largest glass production hub
Sisecam ignited its new glass packaging furnace in Eskişehir and put its glassware furnace into operation after cold repair in the first 3 months. The additional capacity attained following the ignition of glassware furnace has propelled Sisecam to global leadership in glassware production. As a result of the new investment, Sisecam Eskişehir Glass Packaging Facility has become the world's largest integrated glass packaging production facility with 5 furnaces and 24 lines all on a single site. Thanks to these investments, Sisecam's production facility in Eskişehir has become the largest integrated glass production point in the world in the glass packaging and glassware industries.
Sisecam has initiated actions for the second flat glass line investment in its Egyptian joint venture, Saint Gobain Egypt SAE. To facilitate this investment, Sisecam has completed the establishment procedures for a new company. Additionally, Sisecam announced its decision to invest in 175,000 tons per year incremental capacity in its Mersin soda ash facility. This investment, including working capital, is estimated to cost approximately
Largest Corporate Bond Issuance in
The global confidence in Sisecam was reaffirmed by the demand for its Eurobond issuance. Sisecam has issued a total of
Sisecam tapped the market considering strong demand from institutional investors and increased its Eurobond issuance to
Credit Rating Upgrades by Fitch and Moody’s
Leading credit rating agencies Fitch and Moody's have upgraded Sisecam by one notch with ratings to above that on the sovereign. Moody's raised Sisecam’s credit rating from "B3" to "B2" and maintained the "positive" outlook, while Fitch upgraded Sisecam’s long-term foreign currency rating from "B+" to "BB-" and maintained the "positive" outlook.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/479ba7fb-e7b4-4446-9e01-6c7437e45157
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Ayşegül Akyarlı AAKYARLI@sisecam.com
Sisecam
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