Sisecam to Invest USD 60 M More in Its Glass Plants in Bulgaria

Business » INDUSTRY | July 7, 2011, Thursday // 13:21
Bulgaria: Sisecam to Invest USD 60 M More in Its Glass Plants in Bulgaria Pictured: Bulgarian PM Borisov (right) and Sisecam CEO Ahmet Kirman in the new Sisecam automobile glass factory in Targovishte, February 2011. Photo by BGNES

Turkish industrial giant Sisecam is going to invest USD 60 M more in its production facility for household glass in Bulgaria's Targovishte through its subsidiary, Trakiya Glass Bulgaria.

The new investment will expand the existing household glass production line launched in 2005, and will add a second production line in Sisecam's glass factories in Targovishte, which taken together are the largest glass plant in the Balkans.

A total of 200 new jobs will be opened with the new investment, Trakiya Glass Bulgaria HR head Krasimir Kanev said, as quoted by BTA.

The news about Sisecam's new investment in Bulgaria comes after back in February 2011 the company opened the "Sisecam" factory for automobile glass in the northeastern city of Targovishte.

Ahmet Kirman, CEO and chair of the board of Sisecam, pointed out back then that the investments of the Turkish company have turned the Bulgarian city of Targovishte into a center of glass production in the Balkans, and have provided direct employment to 1440 people, while also facilitating the creation of additional small and medium-sized enterprises working with the company on the local level.

The automobile glass investment was estimated at USD 25 M and created 130 jobs. The automobile glass plant was the fifth manufacturing facility of the Turkish glass giant, after the factory for household glass, launched in 2005; for flat glass, launched in 2006; the mirror line and the line for appliance glass from 2007. More than 1 500 workers are already employed at the five facilities.

Back in 2008, Turkish PM Recep Tayyip Erdogan visited to the Sisecam facilities in Bulgaria, saying that Sisecam could be expected to invest some USD 400 M more there. This was confirmed in February 2011 by Sisecam CEO Ahmet Kirman.

Sisecam's total investment in Bulgaria's Targovishte through its subsidiary Trakiya Glass Bulgaria amounts to some USD 400 M as of the srping of 2011. Kirman and the other managers of the Turkish glass giant have made it clear that they plan to build four more plants or production lines in Targovishte worth another USD 400, and to have a total of 2 500 workers in the Bulgarian city if the Bulgarian government meets their requests for tax breaks.

Sisecam CEO Ahmet Kirman's interview for Novinite.com (Sofia News Agency) READ HERE

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Industry » Be a reporter: Write and send your article
Tags: Trakiya Glass, automobile glass, Recep Tayyip Erdogan, Sisecam, underdeveloped regions, foreign investments, glass factory, foreign investments, foreign ivnestors, FDI, Northeast Bulgaria, Northeastern Bulgaria, Ahmet Kirman

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria