Business

₺1.2 billion investment from Sisecam in the January-March 2022 period

Sisecam’s total investment amount reached ₺1.2 billion in the January-March 2022 period.

According to the statement made by the company, Sisecam produced 1.4 million tons of glass in the first quarter, and 1.2 million tons of soda ash and approximately 1 million tons of industrial raw materials in this period.

With its flexible applications and deep-rooted governance experience, Sisecam managed to achieve a strong first-quarter financial performance, even above the same period last year, in an atmosphere full of ongoing global economic and geopolitical uncertainties. Sisecam’s total investments in this period amounted to ₺1.2 billion, and its exports were $240 million.

Sisecam General Manager Gorkem Elverici, whose views are included in the statement, stated that the world witnessed an atmosphere full of uncertainties in the first quarter of 2022, dominated by economic and geopolitical risks, high inflation and problems related to the supply chain are deeply felt on a global scale. “The strong global player of the glass and chemicals sectors, Sisecam continued its growth journey uninterruptedly with its advanced risk management muscles, sound investment decisions, practices implemented with a common mind, and transformation projects. Sisecam, which carries out its activities with the aim of being one of the top three players in the world in its main fields of activity, managed to generate ₺17 billion in revenue in the first 3 months of 2022. In the upcoming period, we will continue to manage our activities using our proactive practices, strong competencies and reflexes, to produce by making necessary updates in our business processes and plans, and to create value for all our stakeholders.”

Elverici stated that Sisecam continued its growth moves in the first quarter of 2022 with a holistic development approach and continued its activities in supply, growth and sustainability for the planet.

“With its operations respectful to nature and society, practices that create sustainable value for all its stakeholders, investments and value-added products, Sisecam has made an important acquisition in Italy at the beginning of 2022, proving that it is a global, technological and leading global company that shapes the future. In order to manage the risks that may arise due to the global disruptions in the supply chains and to guarantee the sustainability of its investments, it acquired the Italian Refel company, one of the world’s leading refractory manufacturers. With this investment in refractories, which plays a critical role in the implementation of new furnace investments and cold repair processes in the glass field, Sisecam will both strengthen its strategic position in the European and world glass markets and become an important player in the developing and growing refractory sector. Our steps towards sustainability in raw material supply and production and our strategic investments will continue in the upcoming period with the same understanding.”

“With the aim of being one of the top three players in the world, it continues its investments without slowing down”

Elverici stated that Sisecam continues its growth that creates value for its entire ecosystem, despite global economic uncertainties, by correctly managing risks and utilizing sound investment opportunities, “Sisecam continues its investments without slowing down with the aim of contributing to the growth of its ecosystem, eliminating the risks that may arise in the fields in which it operates, and becoming one of the top three players in the world. With this approach, we held the groundbreaking ceremony of our Hungary facility, which we announced as our first investment in glass packaging in Europe in 2021, in the first quarter of this year. Sisecam will have an additional production capacity of 330 thousand tons per annum with this investment, which is planned to have the first furnace commissioned in 2023 and the second furnace to be activated in the following year and to reach full capacity in 2025. The Hungarian glass packaging investment will enable Sisecam to expand its glass packaging production footprint, to be positioned close to the European market in accordance with the current requirements of the supply chain, and to bring quality glass packaging products to the European market more easily.”

In an environment full of risks stemming from global inflation, volatile exchange rates and supply chains, where economic and geopolitical uncertainties continue, Elverici said that Sisecam’s power to achieve its goals derives from its deep-rooted experience in supporting digital decision-making processes and its ability to be managed with a common mind.

“As a well-established company managed with a common mind, distinguished by the use of smart technology and qualified human resources, we are among the most prepared institutions against global fluctuations. For example, we operate with 8 facilities in Russia, which is facing sanctions due to the war, and we produce in the field of glass packaging, glassware and flat glass. In Russia, where we are the leader in glass packaging and glassware, we are able to manage our operations with the effect of selling more than 90% of our production to the domestic market. From time to time, we may encounter fluctuations in different areas such as rapid cost changes, interruptions in energy supply, breaks in the supply chain. However, Sisecam manages to create enviable results under all circumstances, with its strong crisis management muscles, its structure made even more agile by the merger, and its big digital transformation moves. It continues its growth journey uninterruptedly by determining its long-term direction and taking advantage of the investment opportunities that arise according to the conditions of the day.”

Source: Trthaber / Translated by Irem Yildiz

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