ISTANBUL, Turkey, June 07, 2023 (GLOBE NEWSWIRE) -- Sisecam took the first step to enter a new business field which promises high potential to bolster its holistic digitalization and operational excellence efforts. Sisecam has signed a letter of intent to become an investor in Turkish technology company ICRON - an optimization platform service provider to numerous sectors for strategic and operational decision making.
This initial investment that Sisecam started negotiations on in the field of technology development, marks Sisecam's determination to invest in technology-focused, promising companies and projects. With this new step and approach, Sisecam signals that it will accelerate its growth journey centered around data, innovation, and digitalization.
Sisecam, a global player in the glass and chemicals industries, has 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. Differentiating with the smart technology usage and its competent human resources, Sisecam continues its uninterrupted growth by blending its unique experience gained during 88 years of corporate industrial history with its transformation efforts and promising investments.
While Sisecam continues to assess investment opportunities in different business areas to gain new strengths, the discussions initiated with ICRON represent a strategic step for the company to further enhance its transformation and digitalization efforts with diverse skills and perspectives. Sisecam defines itself as a technology company breaking new grounds with its experience and capabilities in different fields. Developing technology for its operations and businesses has always been a part of Sisecam’s working culture.
In 2018 Sisecam started a holistic transformation project in order to get ready for the future. This transformation journey is defined as “the most advanced SAP re-platforming project” in the world. Sisecam is also the first company in Turkey to carry out a foreign trade transaction with blockchain technology. Another pioneer initiative that Sisecam launched in line with its 'End-to-End Digital Treasury Management' target is the Digital Fraud Detection and Control System. Sisecam, the first company in Turkey to join the swift network by obtaining a corporate swift code, is also the winner of the Adam Smith Best Cyber Security Solution Award in 2021, one of the most prestigious awards in this field. Sisecam received the Alexander Hamilton Digital Transformation Award in 2022 for its success in managing digital transformation projects, finding, and integrating technology solutions to solve problems in operational processes.
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, a company with high potential in the world of decision optimization, and will provide gains for Sisecam by elevating the operational excellence and optimization approach within its current operations to a higher level.
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.
ICRON steps into the 2023 Gartner Magic Quadrant for Supply Chain Solutions
Established in 1992, ICRON offers intelligent supply chain solutions that contribute to the sustainable, efficient and profitable operations of global customers in various sectors. ICRON’s algorithm-based, decision-centric software platform supports multiple decision makers, decision processes, and scenarios through various problem-solving techniques such as optimization, planning, machine learning, and artificial intelligence algorithms. Sisecam and ICRON have been collaborating since 1996 for Sisecam’s supply chain related needs. ICRON has once again proven its capabilities by stepping into the 2023 Gartner's "Magic Quadrant for Supply Chain Planning Solutions," which was published in May 2023. Gartner is recognized as one of the most respected technological research and consulting organizations worldwide. This recognition further establishes ICRON's position as one of the top 20 companies in the global supply chain planning domain and demonstrates ICRON’s capabilities since the report serves as a highly regarded and globally essential guide followed by supply chain decision-makers worldwide.
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