Lydian Facilitates Ciner Glass's 600 Million Euro Investment for Cutting-Edge Glass Facility in Lommel
We are pleased to announce Lydian's pivotal role in assisting Ciner Glass in finalizing a 600 million euro investment for a state-of-the-art glass production facility at Kristalpark III in Lommel, Belgium. The land transfer agreement, completed on 2nd February 2023, marks the conclusion of the acquisition process initiated in 2021, granting Ciner Glass full rights to the 240,000 square meters previously owned by LRM.
The new Ciner Glass factory in Lommel marks an exciting chapter for the Flemish industry. The 600 million euro investment, one of the largest ever made by a Turkish company in Belgium, will create 500 direct and an equal number of indirect jobs. Local partners, including Flanders Investment & Trade, LRM, the City of Lommel, and the Flemish government, support this strategic investment.
As Ciner Glass's legal counsel, the multidisciplinary Lydian team, comprising Bruno Stroobants, Karlien Meert, and Laura Reynders, advised on the real estate aspects. Simultaneously, Peter De Ryck, Florence Colpaert, and Benjamin Louwaege advised the corporate facets, with Tom Geudens offering counsel on the finance aspects.
Construction begins this month, aiming for full operation by 2026, producing 1,300 tonnes of glass daily. Ciner Glass plans to use 75% recycled glass, reducing energy consumption by at least 20%. This commitment reflects their dedication to environmental sustainability.
We express our sincere appreciation to Ciner Glass for entrusting us with this exciting milestone, and we look forward to the success and growth that this transformative project will bring.
For further information related to the services provided, please contact Bruno Stroobants.
Read the press coverage below:
https://www.made-in.be/limburg/startschot-voor-investering-van-600-miljoen-in-lommelse-fabriek/
Authors
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PartnerPeter De Ryck
Download VCARDCorporate
Private Equity & Venture Capital
Insolvency and RestructuringPeter.DeRyck@lydian.be
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