Şişecam Decides to Terminate Partnership with 7C Basalia Global AG

Partnership Fails to Meet Expectations Türkiye Şişe ve Cam Fabrikaları A.Ş.
(Şişecam) has announced its decision to terminate its partnership with Swiss-based 7C Basalia Global AG through a notification to the Public Disclosure Platform (KAP).
The company had initially joined the venture, established on May 17, 2022, with a capital of 1,050,000 CHF, by taking a 10% stake.
The decision taken by the Şişecam Board of Directors emphasized that the technical and operational progress expected from this partnership, which was formed as part of a biotechnology-focused investment in new inventions, could not be achieved.
Termination Process and Official Statement In the official statement released by Şişecam, the following remarks were made regarding the termination of the partnership: "Since it has been evaluated that the continuation of the partnership is not in the best interests of our Company due to the failure to achieve the expected technical and operational progress from the investment, it has been decided to initiate the necessary process to terminate the partnership established with 7C Basalia Global by following the appropriate methods." Company management stated that the necessary legal and administrative procedures for the termination of the partnership have been initiated and that the process will be closely monitored.