EBRD acquires stake in recycling subsidiary of Turkish glass firm Şişecam


Turkish glass producer Şişecam has received additional support for its recycling activities from the European Bank for Reconstruction and Development (EBRD). The bank announced earlier this week that it is acquiring a minority stake in Şişecam Çevre Sistemleri A.Ş., a newly established recycling arm of Şişecam, and is extending the subsidiary a €40m loan.

Şişecam Çevre Sistemleri A.Ş plans to use the funds to finance glass recycling equipment and energy efficiency investments. In addition, EBRD said it has mobilised an additional €2m loan from the Clean Technology Fund as well as EU grants to support Şişecam’s efforts to boost glass recycling in Turkey.

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