At the fair, Şişecam will showcase Şişecam SolarMax, a high-performance glass designed to enhance efficiency in photovoltaic (PV) modules. With its low iron composition, SolarMax will ensure high light transmittance, while its special Anti-Reflective (AR) coating will reduce light reflection, increasing the amount of light absorbed by solar panels. This will translate into higher energy generation and long-lasting performance. Its temperable structure will further strengthen panels, protecting them against harsh environmental conditions. SolarMax will be offered for commercial-scale solar projects, reflecting Şişecam’s commitment to supporting large-scale renewable energy investments.

Şişecam will continue to expand its production capacity and invest in next-generation solar technologies, demonstrating its advanced manufacturing capabilities. SolarMax not only will enhance PV panel efficiency but also will strengthen Şişecam’s position as an innovator in solar energy and glass technology.

Another highlight will be Şişecam Charger by ML System, a façade and roof solution that will transform glass surfaces into energy-generating structures using building-integrated photovoltaic (BIPV) technology. Developed in partnership with ML System, this solution will combine architectural design with electricity production, enabling façades and roofs to generate energy without compromising aesthetics. Tempered for durability, it also will offer comprehensive documentation for smooth technical integration, turning buildings from energy consumers into energy producers.

Throughout Solarex Istanbul, Şişecam will welcome visitors to its booth, where it will showcase its expertise in solar energy, advanced glass technologies, and innovative solutions that will support sustainable energy transformation.

The post Şişecam to Showcase Innovative Solar Glass Solutions at Solarex Istanbul appeared first on GlassBalkan.

This latest transaction strengthens Şişecam’s funding flexibility at a time when industrial groups are prioritising longer debt tenors, maturity extension, and more stable liquidity planning in international markets.

A Strategic Refinancing Move: Extending the Maturity Profile

Şişecam confirmed that the proceeds will be used primarily to refinance the remaining $372 million liability from its 2026 Notes, alongside selected short-term financial obligations. The result is a shift away from short-term liabilities toward a more long-term debt profile, supporting a healthier maturity structure and reducing refinancing pressure in the medium term.

In practical terms, this issuance supports:

• Diversification of funding sources in liquidity management
• Reduced short-term concentration risk in debt repayments
• Higher financial resilience against market volatility
• Greater flexibility for investment plans focused on long-term value creation

International Bookrunners and Confirmed Credit Ratings

The issuance was mandated to a group of major international institutions:
Citigroup Global Markets Limited, BNP Paribas, J.P. Morgan Securities plc, and Emirates NBD Bank PJSC.

Şişecam’s credit ratings were also affirmed at current levels during the process, rated “B” by Fitch and “B2” by Moody’s, maintaining consistency in its international market profile.

CEO: Confidence in Strategy and Global Positioning

Commenting on the outcome, CEO Can Yücel underlined that investor demand reflects confidence not only in the company’s current performance, but also its long-term strategic direction. He highlighted that extending debt maturity increases resilience against medium- to long-term risks, while strengthening operational flexibility and supporting continued investment focus.

The new Eurobond follows Şişecam’s recent momentum in global debt markets. Last year, the group issued a combined $1.5 billion in Eurobonds across 5-year and 8-year maturities, drawing nearly $5 billion in demand, marking one of the largest corporate bond issuances in Türkiye’s history.

The post Şişecam Secures $500M 7-Year Eurobond to Refinance 2026 Notes and Strengthen Long-Term Liquidity appeared first on GlassBalkan.

The Role of Advanced Glass Technologies

Modern architecture increasingly relies on smart and energy-efficient glass to tackle heat gain and reduce cooling energy demand. Several types of advanced glazing have emerged as key solutions:

• Solar control glass reflects and filters sunlight, limiting heat penetration without sacrificing natural light.
• Low-emissivity (Low-E) glass features ultra-thin coatings that reduce heat transfer while maintaining daylight access.
• Electrochromic (smart) glass automatically adjusts its tint in response to sunlight intensity, balancing glare control and thermal comfort.
• Photovoltaic (PV) glass integrates solar cells within the glass to generate electricity while simultaneously minimizing heat gain.

Composition and Performance

These glasses are made from float glass, composed mainly of silica sand, soda ash, and limestone. Their thermal and optical properties are enhanced through sophisticated coatings involving materials such as silver, metal oxides, and tungsten compounds. This precise engineering enables glass to selectively control solar radiation, ultraviolet rays, and infrared heat.

Industry Leaders Driving Innovation

Leading manufacturers producing such high-performance glass include Saint-Gobain (Cool-Lite®, SageGlass®), Guardian Glass (SunGuard®), AGC Glass Europe (Stopray, Energy), and Pilkington / NSG Group (Suncool®). Other notable players such as Şişecam, Vitro, and View Inc. are also pioneering smart and photovoltaic glazing technologies.

Beyond Energy Savings: A Climate Imperative

Smart glass technologies do more than improve occupant comfort and reduce energy consumption, they contribute to lowering urban heat islands and greenhouse gas emissions. These innovations support sustainable building certifications like LEED and BREEAM, underscoring their importance in climate-resilient urban planning.

As temperatures rise globally, smart glass represents not just an architectural choice but a strategic response to the urgent challenge of urban heat.

The post How Can Advanced Glass Technology Help Combat Urban Heatwaves? appeared first on GlassBalkan.

The company confirmed that Mr. Elverici stepped down effective April 30th.

This leadership change sees the appointment of Mr. Can Yücel as the new CEO, effective May 1st, 2025. Mr. Yücel will also continue to serve as a Member of the Board of Directors, providing continuity and strategic oversight.

The timing of Mr. Elverici’s departure is noteworthy, coming just three weeks after he served as the keynote speaker at Şişecam’s 90th-anniversary conference. At this prominent event, he outlined the company’s future vision and its plans for the future of its annual conference, highlighting his recent and public commitment to the company’s trajectory.

Mr. Elverici was appointed to the CEO role in July 2021. During his tenure, he led Şişecam through a period of significant global and industry-specific challenges. His background is marked by a strong academic foundation and diverse professional experience. Born in Ankara in 1976, he holds a degree in Civil Engineering from Middle East Technical University, an MBA from Bilkent University, and a Ph.D. in Banking and Finance from Kadir Has University. Prior to his leadership roles at Şişecam, where he also served as CFO and Executive Board Member, Mr. Elverici gained valuable experience in business banking with institutions like İş Bankası and HSBC, and in management consulting with firms including Deloitte and Accenture.

While the reasons for Mr. Elverici’s sudden resignation have not been publicly disclosed, such transitions in leadership at major corporations can occur due to a variety of factors, ranging from personal decisions to strategic realignments.

The appointment of Mr. Can Yücel signifies a new chapter for Şişecam. As a current Member of the Board, Mr. Yücel is likely well-acquainted with the company’s operations, strategy, and ongoing initiatives. His continued presence on the board further suggests a focus on a smooth transition and the continuation of Şişecam’s strategic objectives.

The industry will be closely watching as Mr. Yücel assumes his new responsibilities and articulates his vision for Şişecam’s future. The company, a major player in the global glass market, will undoubtedly navigate this leadership change with a focus on maintaining its operational excellence, strategic growth, and commitment to its stakeholders. Further details regarding the transition and Mr. Yücel’s priorities are anticipated in the coming weeks.

Source: Şişecam with additional information added by GlassBalkan

The post Leadership Transition at Şişecam: A Change at the Helm appeared first on GlassBalkan.

Under the banner of “United to Innovate – Inspire Future,” the conference served as a crucial platform for fostering collaboration and showcasing groundbreaking advancements within the global glass industry.

The event brought together a diverse group of stakeholders, including academic experts, glass manufacturers, and suppliers, facilitating a vital exchange of innovative ideas. Through insightful presentations, engaging panel discussions, and strategic networking sessions, the conference fostered a collaborative environment designed to propel the industry forward. The focus was clear: leveraging innovation to shape the future of glass production, sustainability, and application across various sectors.

Central to the discussions was the concept of Şişecam’s “Plant of the Future,” a platform driving digitalization and sustainability within the company’s production processes. CEO Görkem Elverici emphasized the pivotal role of collaboration, collective intelligence, and innovation in shaping the future of the glass industry. He highlighted glass’s unique position as a material that blends art and science, crucial for building a sustainable future. He further stated that Şişecam is committed to transforming production technologies through the ‘Plant of the Future’ initiative, aiming to set new industry standards.

Burak Büyükfırat, Şişecam’s Chief Research and Technological Development Officer, reinforced the importance of knowledge sharing and collaboration in tackling current industry challenges. He stressed that the conference provided a valuable opportunity to accelerate progress and develop solutions that will define the future of the glass industry.

The conference agenda tackled key topics critical to the industry’s evolution. Discussions revolved around industry decarbonization strategies, advancements in materials science, approaches to enhance energy efficiency, the implementation of cutting-edge coating technologies, the integration of digitalization, and forward-thinking product design. These key areas of focus underscored the industry’s commitment to innovation and sustainability, setting the stage for a future driven by collaboration and technological advancement.

Source: Şişecam with additional information added by GlassBalkan

The post Şişecam Celebrates 90 Years, Drives Glass Innovation at International Conference in Venice appeared first on GlassBalkan.

During the meeting, Şişecam presented its 2024 Annual Financial Report along with detailed updates on its financial and operational performance.

In his opening speech at the General Assembly, Şişecam’s CEO, Görkem Elverici, said, “In recent years, the world has faced a challenging period marked by uncertainties and fluctuations. 2024 may have been the year when these challenges were most intensely felt. Global economic fluctuations, inflationary pressures, high interest rates, tight monetary policies, volatile energy prices, and geopolitical tensions shaped the year.

“Low growth in China, delayed recovery from Europe’s energy crisis, and election issues in many countries, particularly in the U.S., were the other key highlights. In Turkey, high inflation and the real appreciation of the Turkish lira against reserve currencies negatively impacted the financial results of companies operating internationally, especially those with export activities and foreign production sales.”

Elverici continued, “Looking at our financial and operational performance, we did not face any production difficulties in our glass business lines. The total volume of glass production across all our glass business lines increased by 8 percent in 2024 compared to the previous year. Our glass product sales also showed a 9 percent increase in volume year-on-year. In the chemicals segment, where we are a global leader in chrome chemicals, our sales volume increased by 27 percent, while our soda ash sales remained in line with the previous year.

“Despite the challenges in the overall economic environment, Şişecam was one of the few companies that closed 2024 with a net profit, among industrial companies with significant export shares and international operations managed from a Turkey-based model. Moving forward, we aim to further strengthen our solid and sustainable financial structure.

“Additionally, we aim to generate the highest possible value for all our shareholders through optimized share buyback strategies, while maintaining our dividend distribution policies. We are confident that Şişecam, with its innovation and adaptability, has the potential to turn this volatile economic environment into an opportunity. We are rapidly and decisively implementing extraordinary measures to restore our financial performance to its previous levels.”

Source: Şişecam with additional information added by GlassBalkan

The post Şişecam Navigates Economic Headwinds to Deliver Profitability in 2024 appeared first on GlassBalkan.

To navigate this transformative landscape, the 39th Şişecam  International Glass Conference, themed “United to Innovate – Inspire Future,” promises to be a pivotal event for stakeholders across the value chain. Scheduled for April 10-11, 2025, in the captivating city of Venice, Italy, this prestigious conference will bring together leading academicians, scientific institutions, glass manufacturers, and suppliers to delve into the future of glass science and technology.

Hosted by Şişecam, a global leader in the glass industry, this year’s conference holds added significance as it coincides with the company’s 90th anniversary. This milestone celebration underscores Şişecam’s enduring commitment to innovation and its proactive role in shaping the future of the industry. By providing a platform for knowledge sharing, collaboration, and strategic discussions, the conference aims to foster a collective vision for the future of glass.

A Forum for Cutting-Edge Insights and Collaborative Innovation

The 39th Şişecam International Glass Conference is not just another industry event; it is a carefully curated forum designed to stimulate innovative thinking and forge collaborative partnerships. The conference agenda is meticulously structured to address the most pressing challenges and opportunities facing the glass industry today. Participants can expect in-depth discussions on a wide range of topics, including:

Product Innovations: From high-performance glazing solutions for sustainable buildings to specialized glass for advanced technologies, the conference will explore the latest advancements in glass product development. Presentations will showcase novel materials, coatings, and manufacturing processes that are pushing the boundaries of what’s possible with glass.

Technological Advancements in Manufacturing: The conference will delve into the technological advancements that are revolutionizing glass manufacturing. Discussions will cover topics such as automation, digitalization, advanced process control, and the application of artificial intelligence (AI) and machine learning (ML) in glass production. Participants will gain insights into how these technologies can optimize efficiency, reduce costs, and improve product quality.

Sustainable Solutions for a Circular Economy: With increasing pressure to reduce environmental impact, the conference will place a strong emphasis on sustainable solutions. Discussions will focus on topics such as the use of recycled glass (cullet), energy-efficient manufacturing processes, the development of eco-friendly glass compositions, and the role of glass in promoting a circular economy. The conference will explore strategies for minimizing waste, maximizing resource utilization, and creating a more sustainable and responsible glass industry.

Emerging Applications of Glass: Beyond its traditional applications in construction, packaging, and automotive, glass is finding new and exciting uses in a variety of emerging fields. The conference will explore these emerging applications, including glass in renewable energy technologies (e.g., solar panels), healthcare (e.g., biocompatible glass for implants), and electronics (e.g., display technologies). Participants will gain insights into the potential of glass to address some of the world’s most pressing challenges and contribute to a more sustainable and technologically advanced future.

Why Attend the 39th Şişecam International Glass Conference?

The 39th Şişecam International Glass Conference offers a unique opportunity for professionals and researchers in the glass industry to:

Gain cutting-edge knowledge: Stay informed about the latest trends, technologies, and innovations shaping the future of glass.
Network with industry leaders: Connect with leading experts, researchers, and professionals from around the world.
Collaborate on groundbreaking projects: Identify potential partners for collaborative research and development projects.
Celebrate Şişecam’s 90th Anniversary: Be a part of a momentous occasion celebrating Şişecam’s legacy of innovation and commitment to the future of glass.
Experience the beauty of Venice: Immerse yourself in the rich culture and history of one of the world’s most iconic cities.

A Call to Action: Participate in Shaping the Future of Glass

The 39th Şişecam International Glass Conference represents a vital platform for shaping the future of the glass industry. By bringing together diverse perspectives and fostering collaboration, the conference aims to accelerate innovation and create a more sustainable and prosperous future for the industry.

Whether you are a seasoned researcher, an experienced industry professional, or a rising star in the field of glass science and technology, the 39th Şişecam International Glass Conference offers an invaluable opportunity to contribute to the ongoing evolution of glass. We encourage you to participate in this important event and join us in Venice to “Unite to Innovate – Inspire Future.”

Registration Information:

https://glassconference.sisecam.com/en

Don’t miss this opportunity to be a part of the future of glass. We look forward to welcoming you to Venice in April 2025.

Source:Şişecam  with additional information added by GlassBalkan

The post Şişecam’s 39th International Glass Conference appeared first on GlassBalkan.

What began as a modest operation with just 400 employees focused on fulfilling Türkiye’s essential glass needs has evolved into a global leader.

Şişecam now operates 45 production facilities across four continents and employs over 24,000 dedicated professionals worldwide. This milestone reflects not only Şişecam’s remarkable growth but also its unwavering commitment to innovation and excellence in the glass industry.

Şişecam’s CEO Görkem Elverici said, “With a proud 90-year history inspired by the vision of our Founder, Mustafa Kemal Atatürk, Şişecam continues to solidify its leadership across its main fields of activity. Our global culture, uniting individuals from 35 different nationalities and encompassing 23 languages, enables us to create value for our entire ecosystem. Through strategic investments, cutting-edge technologies, and a strong commitment to R&D, Şişecam has established itself as one of the world’s largest producers in its sectors.

“The milestones achieved along this journey reflect the invaluable contributions of our employees, customers, suppliers, shareholders, stakeholders, and business partners. As a company that not only shapes the present but also the future, Şişecam will continue to emerge stronger from every challenge, advancing with an unwavering commitment to sustainable growth and long-term value creation.”

Today, Şişecam stands as the only global company operating in all core areas of glass production. It leads the world in glassware and chrome chemicals, ranks among the top four players in glass packaging and the top five producers in flat glass. Additionally, Şişecam is one of the two largest producers of soda ash globally.

Source: Şişecam with additional information added by GlassBalkn

The post Şişecam Celebrates 90 Years appeared first on GlassBalkan.

In his new role, Ünal will play a key role in evaluating the performance of strategic goals within the company, identifying opportunities related to all strategic investment, collaboration, growth, acquisition and divestiture projects on Şişecam’s agenda, and taking necessary actions in a timely manner to achieve the objectives.

Ünal, a graduate of Bilkent University in 1993 with a degree in Industrial Engineering and master’s in Economics, has an extensive and distinguished career in the banking sector. He began his professional journey at İş Bankası in 1997 as an Inspector and progressively took on various leadership roles within the organization. Over the years, Ünal gained significant experience across several of the Group’s subsidiaries and notably served as a Board Member at Isbank AG Frankfurt.

In his most recent position as the Head of Financial Management at İş Bankası, Ünal played a pivotal role in overseeing the preparation and publication of both solo and consolidated financial reports. He was responsible for defining accounting policies for subsidiaries within the consolidation scope and supported the CFO and senior management with financial insights to inform key decision-making processes.

Additionally, Ünal led critical processes such as profit distribution and capital increase, playing a key role in the bank’s financial reporting standards and policy framework.

Source: Şişecam with additional information added by GlassBalkan

The post Şişecam Appoints Ali Tolga Ünal as Chief Strategy Office appeared first on GlassBalkan.

” This recognition comes on the heels of Şişecam’s successful issuance of $1.5 billion in bonds aimed at international institutional investors through its UK subsidiary, Şişecam UK PLC.

The journey began in April when Şişecam issued global bonds totaling $500 million and $600 million, respectively, with terms of 5 years and 8 years. This strategic move was met with strong demand within institutional circles, prompting the company to increase its total offering to $1.5 billion by May. This initiative not only demonstrates Şişecam’s adeptness in financial strategy but also underscores its commitment to expanding its global footprint.

The bond issuance was authorized by renowned financial institutions including Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc, and Bofa Securities. The overwhelming interest from investors around the world is a testament to the strength of Şişecam’s financial positioning. According to the data, 37% of the bonds were purchased by UK investors, 36% by US investors, and the remaining 27% divided among European, Asian, and Middle Eastern investors, showcasing a truly international interest.

Perhaps most impressive is the fact that Şişecam attracted nearly $5 billion in total demand, significantly surpassing expectations, despite offering yields lower than those of existing Eurobonds. This feat not only marks a new record for the largest corporate bond issuance in Turkish history but also reinforces the global confidence in Şişecam as a leading player in its industry.

As we look ahead, these accolades and the unprecedented bond issuance position Şişecam for continued growth and innovation. The company is not just setting standards within Turkey, but is also paving the way for international recognition in the competitive landscape of corporate finance. This achievement is a clear indication that Şişecam is poised to harness its strengths and address future challenges with confidence and resilience.

In conclusion, the recognition at the Global Banking & Markets Awards, coupled with the successful bond issuance, illustrates not only Şişecam’s strong market position but also its commitment to delivering value to its investors and stakeholders. This is just the beginning of an exciting chapter in Şişecam’s journey toward becoming a global leader in its sector.

Source:Şişecam with additional information added by GlassBalkan

The post Şişecam: Pioneering Excellence in Corporate Bond Issuance appeared first on GlassBalkan.