Taiwan Glass to build largest glass conglomerate across Strait

Date: 9 August 2005
Source: Gov.tw
The Taiwan Glass Corp., Taiwan's largest glass manufacturer, has resolved to invest US$10 million more in its Tianjin plant in China via a third-party place.

The increased investments will be used in producing, processing and marketing of float glass in the mainland.

In January this year Taiwan Glass won approval from the Investment Commission under the Ministry of Economic Affairs to invest US$8 million to set up a glass plant in Tianjin, which will begin mass production in June next year.

So far Investment Commission has approved Taiwan Glass to invest NT$7.499 billion (US$235.07 million at US$1:NT$31.9) in the mainland through a third-party place. The total investments in the mainland account for 54.08 percent of the company's paid-in capital. Real investments there have amounted to NT$7.18 billion (US$225.07 million), commanding 51.78 percent of its paid-in capital.

In addition, the company is also building a TF-4 float-glass plant in Lukang of Changhua County, central Taiwan. With total investment of NT$2 billion (US$62.69 million), the plant will begin mass production in June next year at an annual capacity of 180,000 metric tons. At that time, the company will see total production capacity across the Taiwan Strait reach 2.27 million metric tons per year, becoming the largest producer of glass in both Taiwan and the mainland.

Taiwan Glass has recognized NT$1.229 billion (US$38.52 million) in profits made from mainland investments over the past three years, including NT$226 million (US$7.08 million) in 2002, NT$171 million (US$5.36 million) in 2003, and NT$831 million (US$26.05 million) in 2004.

The company registered pretax profits of NT$1.765 billion (US$55.32 million) on sales of NT$7.104 billion (US$222.69 million) in the first half of this year. Pretax earnings per share reached NT$1.1 (US$0.03).

600450 Taiwan Glass to build largest glass conglomerate across Strait glassonweb.com
Date: 9 August 2005
Source: Gov.tw

See more news about:

Others also read

Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

Add new comment