Date: 4 February 2022
舰颈艧别肠补尘, the only global player operating in all core areas of glass production, is beginning the 2022 International Year of Glass with a strategic investment move that will ensure the sustainability of its manufacturing investments. 舰颈艧别肠补尘 will acquire the Italian company Refel 鈥 one of the world's leading refractory materials manufacturers. Refractory materials are used in the construction of glass melting furnaces and is crucial for the timely commissioning of investments in accordance with planned schedules. With this acquisition, 舰颈艧别肠补尘 aims to eliminate risks related to the disrupted supply chain and secure its refractory supply in order to realize its new investments in glass manufacturing on schedule. While deeply caring about the high quality AZS refractory requirements of the existing and prospective customers, 舰颈艧别肠补尘 will maintain Refel鈥檚 competitive position through continuous high-quality service at a global scale. The Refel acquisition will also further bolster 舰颈艧别肠补尘's strategic position in the global glass industry.
舰颈艧别肠补尘 Chairman of the Board Prof. Dr. Ahmet K谋rman, regarding 舰颈艧别肠补尘's decision to purchase Refel S.p.A., stated the following: 鈥淭he world has entered a period of great change. No country or sector has escaped unscathed after the onset of the global pandemic. This new era is characterized by volatile conditions globally. The ability to adapt effectively to changing conditions due to breaks in the supply chain is now one of the most important competencies that we should all have. In such an environment, companies that have sufficiently prepared to adapt quickly to ever-changing conditions to meet their goals will continue to develop and grow. As you know, 舰颈艧别肠补尘 is moving forward on its growth journey toward becoming one of the top three players in the world in its core business areas. At 舰颈艧别肠补尘, we are implementing the right strategic investments to achieve our ambitious goals. Securing the supply of critical materials is absolutely imperative today during this time of widespread supply chain disruptions.鈥
One of the most critical issues for glass furnace investments and cold repairs to be completed in accordance with planned schedules is refractory materials supply. Prof. Dr. Ahmet K谋rman explained, 鈥淩efractory is a material of strategic importance in glass furnace investments. Especially during times of intensive investment across the sector, refractory lead times can change significantly and can delay the completion dates of furnace investments. The unavailability of this material can double the time required to complete cold repairs in glass melting furnaces. The acquisition of refractory manufacturer Refel will ensure that the supply risks 舰颈艧别肠补尘 may face will be eliminated. The acquisition will remove any obstacles to realizing our investments in the planned schedule and reaching capacities that are in line with our growth projections at the right time. The Refel acquisition will positively affect our profitability and will ensure sustainability in 舰颈艧别肠补尘's manufacturing investments. Acquiring Refel will strengthen 舰颈艧别肠补尘's strategic position in the European and global glass industry. 舰颈艧别肠补尘 will also become a major player in the ever-developing and growing refractory industry.鈥
鈥溄⒕迸煴鸪Σ钩's strong RD&T and design capabilities which also extends to furnace designs will enable us to introduce many innovative products and technologies to the glass industry in the refractory field. 舰颈艧别肠补尘 aims to expand the area of benefit where it creates sustainable value for all its stakeholders with this latest investment toward vertical integration. 舰颈艧别肠补尘 will also become a major player in the ever-developing and growing refractory industry鈥 Prof. Dr. Ahmet K谋rman stated.
舰颈艧别肠补尘 is a global player in all core areas of glass production 鈥 including flat glass, glassware, glass packaging, and glass fiber 鈥 as well as business lines covering soda and chromium compounds. In addition, 舰颈艧别肠补尘 plays a leading role in the automotive, mining, energy and recycling sectors. Today, 舰颈艧别肠补尘 ranks second worldwide in glassware production and among the top five manufacturers of glass packaging and flat glass. 舰颈艧别肠补尘 is also one of the world鈥檚 top three soda producers as well as the global leader in chromium compounds. 舰颈艧别肠补尘 serves customers in 150 countries around the globe with operations spanning 14 countries on four continents.
Producing a wide range of refractory products for use in different types of glass furnaces under its own brand
Producing fused cast refractories, Refel has been operating in Northern Italy since 1986. Refel has been a part of LIVIA Group, an independent industrial holding, and private investment firm, since 2017. Boasting automated production capabilities that are fully computer controlled, Refel produces and sells an extensive range of refractory products for use in different types of glass furnaces under its own brand. Taking into account the environmental impacts of its production operations, Refel complies with 舰颈艧别肠补尘's sustainability-focused policies where the environment is a top priority.
Refel is also widely known for its R&D capabilities in refractory product development. It operates an advanced laboratory with a scanning electron microscope for post-production refractory material checks, refractory tests, and high-resolution analysis, as well as the analysis of glass defects. A sector standout with its high-quality fused-cast refractory manufacturing, Refel has an annual production capacity of over 6,000 tons. Excluding Chinese producers, Refel holds nearly 20% of the global AZS refractory capacity which is used in the furnaces of glass manufacturing facilities.
Prof. Dr. K谋rman pointed out that Refel's R&D capabilities align with 舰颈艧别肠补尘's advanced R&D culture, adding: 鈥溄⒕迸煴鸪Σ钩 is capable of translating its R&D competencies and operations into rapid production with its top-quality workforce. For nearly half a century, 舰颈艧别肠补尘 has fostered its innovation culture, boosted its advanced production capacity, and deepened its corporate R&D experience. We have been adding value to life for 86 years by introducing innovative solutions and practices to the global glass industry. 舰颈艧别肠补尘 Science and Technology Center is among the leading R&D centers in the global glass industry. 舰颈艧别肠补尘 not only designs products but also designs furnaces; as a result, we will contribute to Refel's ongoing R&D development with our own advanced R&D capabilities.鈥
"One of the biggest Turkish investors in Italy, 舰颈艧别肠补尘 attaches great importance to this country where it has a 16-year investment history," said Prof. Dr. K谋rman. He continued: "Italy is a strategic priority for 舰颈艧别肠补尘 in terms of investments and commercial operations. The nation has a population of more than 60 million, a USD 2 trillion economy, and a long-established industrial history. Today, 舰颈艧别肠补尘 conducts production operations in Italy in three different business lines. Currently, 舰颈艧别肠补尘 produces over 400,000 tons of flat glass, 4 million square meters of coated glass, 8 million square meters of laminated glass, and 8,800 tons of chrome compounds in Italy each year. 舰颈艧别肠补尘 proudly represents Turkey with its advanced technology development and production capabilities in the countries where it operates with an expansive global footprint."
舰颈艧别肠补尘 announced new investments totaling TRY 6.5 billion in Turkey in 2021
In 1935, 舰颈艧别肠补尘 was established to lay the foundations of the glass industry in Turkey. Today, 舰颈艧别肠补尘 posts steady growth in its home country with value-added investments. In 2021, 舰颈艧别肠补尘鈥檚 strong investment moves contributed to Turkey鈥檚 positive economic growth and flagship industries. Last year, 舰颈艧别肠补尘 reported a planned investment of two new float lines worth TRY 5.2 billion (344 Million Euros) in architectural glasses and automotive glass. The company also announced that a new glass packaging facility would be commissioned in Eski艧ehir. The total value of new investment plans 舰颈艧别肠补尘 announced for Turkey in 2021 exceeded TRY 6.5 billion (428 Million Euros). Refractory production capabilities will facilitate 舰颈艧别肠补尘's investments in Turkey and beyond.
舰颈艧别肠补尘 prioritized meeting Turkey's glass demands and creating value for the Turkish economy even in the climate of uncertainty caused by the global pandemic. The company uninterruptedly maintained investments in its existing Turkish facilities to update them with state-of-the-art technologies. In addition, a series of new investment plans was announced that will add value for all stakeholders. 舰颈艧别肠补尘 prioritizes the demand in the domestic Turkish market in an environment where the supply chain is disrupted on a global scale. Each year, 舰颈艧别肠补尘 invests some TRY 1 billion on average to ensure that its facilities can align with technology advances, and to facilitate cold repair efforts.
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