Şişecam Automotive Expands Capacity in Hungary

To counter the economic effects of the pandemic, competitiveness boosting programs have been gradually launched under government subsidy schemes (VNT) in Hungary which triggered developments in up to 30 different industries. Turkish Şişecam Automotive announced its latest investment this week related to the most recently initiated VNT3 incentive improving schemes which concern capacity expansion and high-tech installation, respectively.

The investment of Şişecam Automotive Hungary Ltd., a Turkish-owned company specializing on glass-packaging, will be implemented with the help of competitiveness increasing subsidy schemes under which a plot and new equipment will be purchased, and a warehouse will be built in Aszód in value of HUF 3 billion. Over 20% of this amount is covered by Hungarian taxpayers trough a government decision.

Further benefit of the development is the creation of 100 new jobs. The capacity expansion paves the way for revving up export sales as well.

Having a tradition of 35 years, the Şişecam Group has become a global stakeholder by now: it produces flat glass, glassware and glass packaging material, and it exports the bulk of its products to 150 countries of the world. Italy, the US, France and Germany are all among its major export markets.