Taiwan Glass’ Earnings in First 3Qs Hit 20-year High

Taiwan Glass Corp., Taiwan`s leading manufacturer of glass, saw after-tax earnings total NT$4 billion (US$131.14 million) in the first three quarters for a 20-year high, rising 21-fold year-on-year.

Such stellar earnings is mainly due to rising production equipment utilization rate for flat-panel and energy-saving glass, high selling prices of fiberglass yarns, increased orders for food-container glass, and earnings from invested firms as Formosa Plastics Corp. and Nan Ya Plastics Corp.

The booming realty market in both Taiwan and China has driven Taiwan Glass’ orders for flat glazing, with its production equipment utilization rate exceeding 95% in Hsinchu County and Changhua Coastal Industrial Park of Taiwan, and Jiangsu province of China.

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600450 Taiwan Glass’ Earnings in First 3Qs Hit 20-year High glassonweb.com
Date: 5 November 2010
Source: www.news.cens.com

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