China Specialty Glass wins bidding for equipment of police patrol cars with intruder resistance glass

China Specialty Glass AG (“CSG”), holding company of one of the largest producers of security glass in China, won an important order tendered by the Chinese Ministry of Public Security.

During the bidding process CSG was able to assert itself against four competitors.  The one-year contract designates CSG as exclusive supplier of intruder resistance glass for specially equipped police patrol cars. The total order volume of the contract is not fixed yet but may reach over 10 million Euros.

The Ministry of Public Security plans to equip 200,000 police patrol cars with special features during the next five to eight years. At current prices, this represents intruder resistance glass with a volume of up to 200 million Euros. The contract will be tendered annually. The production of the cars has started in 2013 and will continue in 2014, which means a positive impact for CSG’s group revenues in 2013 and 2014.

“We’re happy, that we could win such an important contract for our company. As the Ministry of Public Security plans to renew the contract annually, we have a good chance to be engaged as a long-term supplier for intruder resistance glass for the government. And thanks to our new production facilities in Sichuan, we can provide the necessary capacities for the additional production volume without any difficulty”, says Nang Heung Sze, CEO of China Specialty Glass.


About CSG

China Specialty Glass AG is the German holding company of the China Specialty Glass Group. The Group develops, produces and sells specialty glass. The Group's main products, which are all sold under the brand name “Hing Wah”, are, on the one hand, for safety glasses such as bullet-proof, bomb-proof and burglar-resistant glasses and, on the other hand, for constructional glasses including laminated, tempered and fire-resistant glasses, hollow glass blocks and electrically-controlled colour-changing glass. The Group is one of the leading companies in China in the fields of safety glass for financial institutions and the automobile industry, both in terms of production output and market share.

The shares of China Specialty Glass AG are listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE000A1EL8Y8 / SIN A1EL8Y / Ticker 8GS).

600450 China Specialty Glass wins bidding for equipment of police patrol cars with intruder resistance glass glassonweb.com
Date: 28 November 2013
Source: www.csg-ag.com

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