Sisecam Plans to Invest in Tech Company
Sisecam signed a letter of intent to become an investor in ICRON, a Turkish technology company that provides optimization platform services to numerous sectors for their strategic and operational decision-making needs. Sisecam’s ongoing discussions on its initial investment in the field of technology development reflect the company's eagerness and appetite in innovative, technological, digital and promising technology companies and projects, according to a company release.
Specifics of the agreement
If the negotiations reach an agreement, ICRON will become Sisecam’s first investment in the field of technology development. This investment from Sisecam will support the growth of ICRON and provide gains for Sisecam.
According to the letter of intent signed by Sisecam’s CEO Gorkem Elverici and ICRON’s CEO Gurer Unal in Barcelona at Gartner's Supply Chain Expo 2023, if the negotiations end with an agreement, Sisecam will have an option right to increase its total stake in ICRON up to 50% by 2027.