SISECAM FINALIZES ITS PARTNERSHIP AGREEMENT WITH ICRON
Sisecam has finalized its partnership agreement with ICRON, a Turkish technology company that provides decision optimization services at operational and strategic levels.
Sisecam Investment B.V., a wholly-owned subsidiary of Sisecam, purchased shares in the Turkish technology company ICRON at the closing general meeting held on January 15, 2024. Sisecam Investment B.V. General Meeting was attended by Sisecam Chairman and Executive Member of the Board Prof. Dr. Ahmet Kırman, Sisecam CEO Görkem Elverici, ICRON Founding Partner A. Tamer Ünal, ICRON Chairman and CEO Gürer Ünal and ICRON Board Member Ahmet Ertuğrul.
Some 3% of ICRON's total shares were purchased by Sisecam Investment B.V. for USD 3 Million. Simultaneously with the share purchase, it was also decided to increase ICRON's total capital by USD 5 Million, with participation solely by Sisecam Investment B.V. As a result of this capital increase, Sisecam Investment B.V.'s stake in ICRON will rise to 15,66%.
In the first half of 2023, Sisecam signed a letter of intent to invest in ICRON, a provider of operational and strategic decision optimization services to various industries. In October 2023, Sisecam announced that it had reached a partnership agreement with ICRON. Under the agreement approved by the Turkish Competition Authority, Sisecam also holds an option to purchase additional shares in ICRON – allowing it to raise its total stake in the company up to 49% – in the future. Sisecam's goal with this partnership, its first investment in software technologies, is to grow in tandem with ICRON, a high potential technology services provider. In addition, Sisecam aims to take its operational excellence and optimization approach in its current business activities to the next level with ICRON.
In recognition of its excellence, ICRON was recognized in Gartner's 2023 “Magic Quadrant for Supply Chain Planning Solutions". This list of the global top 20 supply chain technology vendors was compiled by Gartner, a world-renowned technology research and consultancy firm.
ICRON is expected to contribute to Sisecam's operational and financial performance with its already established digital infrastructure and its quality approach that fully meets today's evolving technological needs.
About Sisecam
Sisecam was founded in 1935 to establish Türkiye's glass industry in line with the vision of Mustafa Kemal Atatürk, a great leader respected worldwide. Today, Sisecam is a major global player in the fields of glass and chemicals. Sisecam is the only global company operating in all core areas of glass production – including flat glass, glassware, glass packaging, and glass fiber. Currently, Sisecam ranks among the world's top two manufacturers of glassware and the top five producers of glass packaging and flat glass. Sisecam is one of the three largest soda ash producers in the world and the world leader in chromium chemicals.
Sisecam plays a leading role in the flat glass, glassware, glass packaging, chemicals, automotive, glass fiber, mining, energy, and recycling business lines. Sisecam operates production facilities in Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, Russian Federation, Georgia, Ukraine, Egypt, India, and the USA in addition to Türkiye.
Sisecam is taking major steps towards its goal of becoming one of the world's top three manufacturers in its main fields of activity. Driven forward by its highly competent human resources and smart technologies, Sisecam is continuously transforming its digital infrastructure and corporate culture taking into account the needs of the future. With 88 years of experience and more than 24,000 employees, Sisecam conducts production activities in 14 countries on four continents and operates a sales network in more than 150 countries worldwide. Sisecam is moving forward on its growth journey, powered by an inclusive approach that supports the development of its entire ecosystem. Sisecam takes responsibility for protecting the planet, empowering society, and transforming lives with its CareforNext strategy, which is compliant with and centered around the United Nations Sustainable Development Goals. Sisecam uses all its experience and competencies to promote sustainable development in every aspect.
www.sisecam.com.tr
