Turkish firm eyes top EU glass brand
Istanbul, June 25, 2011
Turkey's biggest glassmaker Sisecam is interested in possible buying opportunities including a European glass manufacturing brand as it seeks to expand overseas, its chief executive Ahmet Kirman said.
The company also plans to invest in Iraq. "We are focusing on Iraq. If you consider the high need for construction, priority will be given to flat glass," Kirman said in an interview with Reuters on Friday.
Kirman said Sisecam is evaluating investing in China, Greece and Egypt in addition to Iraq.
The companies' growth plans also include holding an initial public offering in Russia for its local unit and also listing its Turkish units on the Istanbul stock exchange. Kirman gave no further details of the IPO plans.
Istanbul-based Sisecam targets 15 per cent sales volume growth in glass this year, Kirman said.-Reuters