(MENAFN)Turkish glass producer Sisecam is founding a glass packaging factory in Hungary with an asset of €255 million (USD310 million).
According to a report sent to Turkey's Public Disclosure Platform (KAP) on Monday, June 7, the facility with two furnaces will have a yearly net output capacity of 330,000 tons.
The first furnace will start working in 2023, and the facility will hit full capacity by 2025.
Chairman Ahmet Kirman stated that Europe offers great opportunities for quick expansion of the glass manufacturing sector and Sisecam. "The investment will meet the increasing glass packaging demand in Hungary and (other countries in) Europe," he added.
MENAFN08062021000045011134ID1102232151
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.