| Project Detail |
The Project consists of an asset acquisition of Pearl Glass Manufacturing S.A.E. of Egypt (Pearl Glass) by Pasabahçe Turkey as part of its business growth plan in the glassware sector. The new company is incorporated in Egypt under the name Pasabahçe Egypt Glass Manufacturing S.A.E. (Pasabahçe Egypt). The plant acquired is located in the industrial area of 6th of October City, 47 km outside of Cairo. The 6th of October is one of several designated industrial zones in the country. The plant will be modernized and different production processes introduced to bring the quality up to Pasabahçe’s standards. The plant currently has two production lines and as part of the modernization, one will be upgraded and the plant will also increase to four press-blow and two press machines. Through the modernization of the plant, production capacity is planned to increase by 50%, from 80 ton/day to 120 ton/day.
Sisecam, the parent company of Pasabahçe, is an industrial group based in Istanbul, Turkey, with 80 years’ history in the fields of glass and chemicals production. The group produces flat glass, glassware, glass packaging, and chemicals businesses with a total of 44 plants, 18 local and 26 abroad, providing employment opportunities to over 21?,000 employees. In addition to being one of the leading industrial companies in Turkey, it is a global player with exports to 150 countries and operations in 13 countries. Sisecam’s glassware division is operated by its subsidiary, Pasabahçe, that manufactures soda-ash and crystal glass, both handmade and automatic production.
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