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Hayır (No)
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BoD has decided to participate to 50% of Denmar US LLC's shares, which are currently 100% owned by Denmar Holdings LLC, through the capital increase method by Şişecam Chemicals USA for 12 million USD, and to become a partner in the Stockton Port Management Project with Ciner Group.
The Stockton Port investment, which will be realized in California, USA, holds strategic importance for our Company's goals of growing in different geographies, achieving high efficiency by supporting operational sustainability, and ensuring value-generating investments by securing supply chain needs. The Stockton Port is an inland port on the west coast that offers domestic and international freight distribution solutions, is accessible to railway transportation companies, has sufficient storage space and is positioned as a port with highly competitiveness.
The Stockton Port investment, planned to be commissioned in 2027, is targeted to be fully operational with its 5 million ton annual capacity in 2029. The capacity and timeline of the Stockton Port Management Project is in line with our Company's US natural soda project's requirements and schedule, which is continuing in line with the plans .
Through this investment, it is aimed to provide the necessary logistics infrastructure for Şişecam's natural soda ash investment export operations, ensure supply chain operations within the multi-port strategy and increase flexibility. The investment is anticipated to result in logistics costs saving.
The relevant press release can be found attached.
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