Turkish glass manufacturer Şişecam has acquired Italian company Refel, one of the world's leading manufacturers in the field of refractory material used in the construction of glass melting furnaces, which is of strategic importance for cold repair, the Turkish company said in a statement Friday.
With this move, Şişecam aims to eliminate the risks related to the disruptions of the supply chain in ensuring refractory supply processes while realizing new investments in the field of glass.
Şişecam Chairperson Ahmet Kırman, whose views were included in the company statement, said that the world has entered a period of great change after the coronavirus pandemic and all countries and sectors have been affected by it.
He added that the most important competency in these rapidly changing times and conditions is the ability to respond to changes quickly. Companies that are able to grow in such an atmosphere are those that will be able to adapt to any obstacles they encounter on the way to their goals, he said.
Stating that one of the most critical issues for glass furnace investments and cold repairs to be realized per the planned deadlines is the supply of refractory, Kırman noted: “Refractory is a strategically important material in glass furnace investments whose supply times can change a lot and can delay the completion times of investments, especially during periods when investments in the sector are high.”
The acquisition of the Italian firm will eliminate the supply risks that may arise while making these investments.
It will also positively affect Şişecam’s profitability.
“This acquisition will ensure sustainability in Şişecam's investments. It will strengthen our strategic position in the European and global glass industry. With the acquisition, Şişecam will become one of the important players in the refractory industry, which is developing and growing day by day,” the company head said.
Stressing that Refel's research and development (R&D) capabilities are compatible with Şişecam's advanced R&D culture, Kırman said: “Şişecam is an organization that can rapidly transfer its R&D competence and activities to production with its highly qualified workforce."
Şişecam's innovation culture, advanced production capacity and corporate R&D experience have a history of nearly half a century. It has been bringing innovative solutions and applications to the sector for 86 years.”
Şişecam Science and Technology Center is among the leading R&D centers of the global glass industry, he also noted.
According to the company statement, with a population of more than 60 million, an economy reaching $2 trillion and a deep-rooted industrial past, Italy has strategic importance for Şişecam both in terms of investments and commercial activities.
Şişecam, a global player in business lines covering all basic areas of glass such as flat glass, glassware, glass packaging and glass fiber, as well as soda and chromium compounds, also plays a pioneering role in the automotive, mining, energy and recycling business lines. The company, which is among the two largest producers of glassware and the five largest producers of glass packaging, carries out production activities in 14 countries on four continents. It offers its products to customers in 150 countries.
Casting refractory materials manufacturer Refel has been operating in northern Italy since 1986. Refel has been part of the LIVIA Group, an independent industrial holding and private investment firm, since 2017. Having fully computer-controlled automatic production capabilities, Refel manufactures and sells a wide variety of refractory products for use in different types of glass furnaces under its own brand. Taking environmental impact into consideration in production, the company is in harmony with Şişecam's sustainability-oriented policies that put the environment among its top priorities.