Turkey’s Sisecam to invest $160 million into Bulgarian flat glass venture
Turkish glass producer Sisecam plans to invest $160 million into a Bulgarian flat glass venture. The project includes the construction of two factories in the town of Targovishte, some 318 kilometers northeast of the capital, Sofia.
Bulgarian Prime Minister Simeon Saxe-Coburg held a meeting with Sisecam’s Vice President Alev Yaraman and General Manager Dogan Arkan on January 13, the Sofia News Agency reported. Geological studies of the construction site are close to completion and a tender for the selection of construction companies will be released in the near future.
Sisecam’s subsidiary Trakiya will be in charge of Bulgarian operations. Sisecam manufactures a wide range of glass products, including flat glass, mechanical and handmade tableware, containers, glass fiber and chemicals. It was established in 1935 and is one of the principal industrial manufacturing enterprises in Turkey.
In 2002, the Andolu Glass Company, another division of the Sisecam Group, commenced production at its new glass container factory located in Vlademir, Russia. The factory was Sisecam’s second venture abroad after an investment in Georgia. — (menareport.com)
© 2004 Mena Report (www.menareport.com)