KfW IPEX-Bank finances export of German plant engineering equipment for glass works in Bulgaria

• Expansion of largest Turkish glass manufacturer
• German exporters provide important plant components
• Hermes covered credit

With a loan in the equivalent of approx. EUR 16 million KfW IPEX-Bank is supporting Turkey's largest glass maker Türkiye Sise Ve Cam Fabrikalari A.S. (Sisecam) with its expansion plans in Bulgaria. The project involves substantially increasing the production capacity in the segments of flat glass at its existing plant in Targovishte in northeastern Bulgaria. For the expansion Sisecam signed agreements with German companies: Dresden-based VON ARDENNE Anlagentechnik GmbH is one of several small and medium-sized enterprises (SMEs) providing exports and will supply the glass coating system, a key component of production of the architectural glass. The financing supports Germany's export industry as the order boosts German suppliers' capacity utilisation in the areas of development, production and service. The nine-year loan is covered by an export credit guarantee of the Federal Republic.

The SME VON ARDENNE is a world market leader in the development and manufacture of machinery and equipment for depositing nanometer to micrometer thin functional layers on materials such as glass, metal strips or foil. The coated materials are used for making architectural glass facades, smartphone displays and touchscreens, heat insulation foil for automotive glass and solar cells. The high-tech company employs around 650 staff.

Sisecam is the largest glass manufacturer in Turkey and the fourth largest in Europe. Globally it ranks among the top ten glass makers. The listed group maintains production facilities in Bulgaria, Russia, Egypt, Georgia, Bosnia and Herzegovina, Italy and Ukraine. Sisecam carries out its activities in Bulgaria through its 100%-owned subsidiary Trakya Glass Bulgaria EAD.