Trakya Cam to decide on Bulgaria investment in 2009

ISTANBUL, Dec 18 (Reuters) - Turkish glass manufacturer Trakya Cam TRKCM.IS said the second stage of its planned investment in Bulgaria in 2009 will depend on market conditions.

Trakya Cam, a unit of leading Turkish glass producer Sisecam SISE.IS, announced in March that it planned to invest $415 million in Bulgaria by 2010.

In a statement to the Istanbul Stock Exchange on Thursday, Trakya Cam said the first phase of its investments was continuing.

“A decision on the second phase of the investment...will be made in 2009 depending on market conditions,” the company said.

Shares in Trakya Cam were down 1.06 percent in early afternoon trade after the announcement, in line with a broadly weaker market. Sisecam was 2.7 percent lower. (Reporting by Daren Butler; Editing by David Cowell)