Sisecam to Increase Stake in Ciner’s U.S. Soda Ash Operations

(Bloomberg) -- Turkish glassmaker Turkiye Sise ve Cam Fabrikalari AS, or Sisecam, will increase its stake in its soda ash production joint venture with Ciner Group for $450 million.

The move will boost Sisecam-controlled soda ash production capacity to more than 10 million metric tons, up from 2.5 million currently, the company said in a filing on Saturday.

Sisecam and Ciner Group have been joint venture partners in soda ash businesses in the U.S. since 2019. As part of the new investment plan, Sisecam will boost its stake in their Pacific project to 60% from 50%. The company said it will also purchase a majority stake in Ciner’s Atlantic project and production facilities in Wyoming.

Bloomberg reported in August that Ciner Group was considering the sale of a stake in its We Soda Ltd. business.

Ciner Group is controlled by Turkish industrialist Turgay Ciner and also has a presence in the energy, shipping and media industries. It operates the BloombergHT television channel in Turkey under a deal with Bloomberg LP, the parent of Bloomberg News.

Derived from the mineral trona, soda ash is used in a wide range of everyday goods, including detergents and pharmaceuticals. 

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