Trakya Cam acquires Romanian glass firm

ISTANBUL

Trakya Cam, by acquiring Glass Corp., wants to be a key supplier of auto windows and grow capacity. Hürriyet photo

Turkish glass producer Trakya Cam has signed an agreement to purchase a 90 percent stake in Romania’s Glass Corp.

Trakya Cam purchased the majority stake in the Romanian company for 3.6 million euros, according to an announcement made by Trakya Cam to the Istanbul Stock Exchange (İMKB).

The Turkish firm, which is hoping to create capacity and become a key supplier of automotive windows, also said it would invest an additional 55 million euros in the Glass Corp.

Trakya to partner with subsidiary in Holland

The share purchase is being made with the partnership of Trakya Cam’s 100 percent subsidiary, Trakya Investment BV, in the Netherlands, according to the company announcement.

The share purchase agreement was signed between all the relevant parties on June 20.