Turkey´s largest glassmaker to buy shares in units

?i?ecam, Turkey´s largest glassmaker, said it plans to buy outstanding shares in its units within a year. Istanbul-based ?i?ecam plans to purchase up to 5 percent of shares in Trakya Cam, Anadolu Cam, and Soda Sanayii within a year on the stock market. The company authorised its chairman and chief executive officer to manage the purchase.

Anadolu Cam, the glassmaker owned by ?i?ecam Group, has recently bought Russian glass packaging company OAO Kirishsky Stekolny Zavod, which operates at a capacity of 95,000 tons per year.

The Istanbul-based company also acquired 40 hectares of industrial land from local authorities in the Russian city of Novosibirsk to build new facilities. The new plant will have a capacity of 240 thousand tons a year. When mentioned investment reaches completion, total production capacity of Anadolu Cam in Russia will rise to 1 million 600 thousand ton/year with 5 factories and 4 thousand employees.