Tecnoglass Commences Production of Soft Coat Glass

Colombia President Juan Manuel Santos to Attend Opening Ceremony on September 10, 2015  - Tecnoglass, Inc. (NASDAQ:TGLS) ("Tecnoglass" or the "Company"), a leading manufacturer of architectural glass, windows, and associated aluminum products for the global residential and commercial construction industries, today announced that the Company's new soft coat manufacturing line has commenced operations.

Juan Manual Santos, the President of Colombia, and Cecilia Álvarez-Correa Glen, Minister of Commerce, Industry and Tourism, are scheduled to visit Tecnoglass' Barranquilla manufacturing complex on Thursday, September 10, 2015. They will join Company officials and other honored guests to commemorate this operational milestone.

José M. Daes, Chief Executive Officer of Tecnoglass, commented, "We are honored to welcome President Santos and Minister Álvarez-Correa Glen to Barranquilla, and look forward to sharing with them this exciting new technology. Our new $40 million soft coat line will dramatically change the way that Tecnoglass serves our customers and addresses the growing, global architectural glass market. We remain committed to Colombia, and will continue to invest in our plant, processes, and people to help drive growth, elevate client service, and expand our global market presence."

Christian Daes, Chief Operating Officer of Tecnoglass, said, "Our initial runs show that the soft coat product we are manufacturing far exceeds our already high quality expectations. This new coating line will initially run at approximately 15% capacity, primarily to satisfy our internal requirements, with full operations expected to commence in 2016. Once at full capacity, which could take several years, this new line is expected to generate $200 to $250 million of additional revenues each year. We also expect to realize significant first year savings from reduced waste, along with improving profitability."

About Tecnoglass

Tecnoglass is the #1 architectural glass transformation company in Latin America, providing hi-spec glass, windows and aluminum products for the global residential and commercial construction industries. Headquartered in Barranquilla, Colombia, Tecnoglass operates out of a 2.3 million square foot vertically-integrated, state-of-the-art manufacturing complex that provides easy access to the Americas, the Caribbean, and the Pacific. Tecnoglass sells to more than 800 customers in North, Central and South America, with the United States accounting for approximately 51% of Company revenues in 2014. Tecnoglass's tailored, high-end products are found on some of the world's most distinctive properties, including the El Dorado Airport (Bogota), Imbanaco Medical Center (Cali), Trump Plaza (Panama), Trump Tower (Miami), and The Woodlands (Houston). For more information, please visit www.tecnoglass.com. Our new corporate video is available at https://vimeo.com/134429998.

Forward Looking Statements

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are based on Tecnoglass's current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of Tecnoglass' business. These risks, uncertainties and contingencies are indicated from time to time in Tecnoglass's filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Further, investors should keep in mind that Tecnoglass' financial results in any particular period may not be indicative of future results. Tecnoglass is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150908005976/en/

600450 Tecnoglass Commences Production of Soft Coat Glass glassonweb.com
Date: 10 September 2015
Source: www.tecnoglass.com

See more news about:

Others also read

Leading international building envelope and major façade specialist the Lakesmere Group has announced a structured management buy-out (MBO) of the company by its executive management team.
Onyx Solar and Tesla were selected by the prestigious Popular Science magazine as one of the best technologies of 2015 in the field of energy worldwide    Onyx Solar created the first transparent glass that can generate free and clean electricity from the sun, and this has served to be awarded this important recognition.
The market for electrochromic glass is expected to have a strong trajectory. According to third-party researcher n-tech, by 2020 the electrochromic glass market should reach $3 billion in revenue and will keep growing to over $4 billion by 2023.
More than six hundred exhibitors, hundreds of new products, new products on the market, a series of substantive meetings, gems of design of construction materials manufacturers, meetings with world-renowned architects, master demonstrations and presentations of installation techniques  – in brief, that is what the 25th edition of the most recognizable construction industry fair - the BUDMA International Construction and Architecture Fair 2016 will look like (February 2-5).
Following is a brief preview of the Glass Industry Event for the Caucasus and Caspian Sea Region.   1-2 March 2016 is approaching and Baku Glass 2016 is ready to welcome professional visitors interested in doing business and discussing the latest technical advances in the glass sector.
International trade is at the heart of economic performance, especially for the glass processing industry.

Add new comment