Sisecam Closure And Opening

Sisecam has closed a glassware factory in Turkey and in the same week opened a bottle producing plant in Vladimir, Russia. The Turkish facility closure leaves over 800 employees jobless, although staff were offered alternative positions, with those not wishing to take up the offer receiving 25% more than legal seniority compensation from the company. Sisecam's latest annual report highlighted the problems it faced in a number of areas including the abandonment of the country's foreign currency anchor-based economic program and a strike in 2001 which affected total glass production.