Today, Tecnoglass Inc. (NASDAQ: TGLS), the largest Colombian manufacturer of architectural glass, windows, and associated aluminum products for the global com
Tecnoglass Inc., a manufacturer of architectural glass, windows and associated aluminum products, has entered into a joint venture agreement with Saint-Gobain through the planned purchase of a minority ownership interest in Vidrio Andino. The Colombia-based subsidiary of Saint-Gobain has annualized sales of approximately $100 million.
Vidrio Andino has been selling glass in Colombia and the region since 1997 and began production at its manufacturing facility located near Bogotá, Colombia in 2013, becoming the main supplier of float glass to Tecnoglass since then.
Vidrio Andino also plans to build a new glass manufacturing facility in Galapa, which is located approximately 12 miles from Tecnoglass’ existing production facilities. The new facility will have nominal production capacity of approximately 750 metric tons per day of float glass. Upon the expected completion of the new Galapa facility in 2021, Tecnoglass will benefit from the following:
Access to ample float glass supply for anticipated growth, with Vidrio Andino more than doubling its float glass production nominal capacity;
Reduced purchasing costs through expanded scale in its float glass procurement, elimination of raw material waste and lower inbound transportation costs given Galapa’s closer proximity to Barranquilla; and
Control of nearly its entire production process, driving increased efficiency to provide enhanced service and improved lead times to customers.
“We are excited to partner with Saint-Gobain and to develop one of the most advanced and efficient glass production facilities in the world near our own plant network,” says Tecnoglass CEO José Manuel Daes. “This investment reinforces our vertical integration strategy and positions Tecnoglass to capture benefits from nearly the entire value chain of our high-quality architectural glass production. The joint venture secures our float glass supply and will generate significant synergies for years to come.”
Fuente: usglassmag.com
Ver articulo completo: https://www.usglassmag.com/2019/01/tecnoglass-enters-into-strategic-joint-venture-agreement-with-saint-gobain/
