Atlanta, Ga. (November 20, 2021) – Ciner Enterprises Inc. (CEI), a wholly owned subsidiary of We Soda Ltd of London, UK, has signed a definitive agreement to sell 60% of Ciner Resources Corporation (CRC) to Sisecam Chemicals USA Inc., a wholly owned subsidiary of Turkiye Sise ve Cam Fabrikalari A.S. (Sisecam) of Istanbul, Turkey. CRC owns an approximately 72% limited partner interest in Ciner Resources LP (NYSE: CINR) (Ciner Resources), as well as its 2% general partner interest and related incentive distribution rights, and so the sale of a controlling interest in CRC, if completed, will result in a change of control for Ciner Resources.
Sisecam has over 80 years of history and is one of the largest industrial publicly listed companies based in Turkey. With production facilities in four continents and 14 countries, Sisecam is one of the largest glass producers in the world. Sisecam has been a partner with the Ciner Group since 2019 and a long-term customer of WE Soda for over a decade. Once completion of the announced transaction occurs Sisecam will have operating control over CRC. WE Soda will remain as a long-term supportive shareholder providing technological and engineering development know-how and expertise.