Sisecam reports strong Q1 net sales of TRY 41 billion, plans investments and expansions

From GlobeNewswire: 2024-06-03 05:12:00

Sisecam, a global leader, reports Q1 2024 net sales of TRY 41 billion, with 61% from international sales. Investments totaled TRY 4.3 billion, with exports reaching USD 262 million. The company plans to invest $114 million in three new coated glass lines to meet growing demand.

Sisecam inaugurates new furnaces in Eskişehir, becoming the world’s largest integrated glass production hub. The facility now boasts 5 furnaces and 24 lines, solidifying its leadership in glassware production. Sisecam also plans a second flat glass line in Egypt and an investment in its Mersin soda ash facility.

Amid strong global demand, Sisecam issues a record $1.1 billion Eurobond, oversubscribed at $3.5 billion. Recognized by Fitch and Moody’s, Sisecam’s credit rating has been upgraded, with Moody’s rating raised to “B2” and Fitch to “BB-.” This marked the largest corporate bond issuance in Turkey’s history.



Read more at GlobeNewswire:: Sisecam’s net sales reached TRY 41 billion in the first 3