Ciner Glass Secures €504 Million for Belgian Expansion

Paul Hastings, a global law firm, has advised Ciner Glass on securing a €504 million financing package designed to bolster the development of a new state-of-the-art container glass production facility in Lommel, Belgium. The financing is split evenly between ECA-backed facilities and commercial facilities, marking one of the largest foreign direct investments into Belgium in approximately ten years. The new facility, featuring two high-capacity furnaces each with a 650-tonne daily capacity, will include eight production lines, aiming to achieve a total daily output of 1,300 tonnes. Expected to generate approximately 500 jobs, the plant symbolizes a significant contribution to both the local economy and the European container glass industry. This transaction was closely managed by a Paul Hastings team from the London, New York, and Frankfurt offices, led by partner Tom Cartwright and of counsel Rita Ghanem.