Monthly Archives: August 2015

Tecnoglass takes another step in glass production

Its new plant, a $ 50 million investment begins operations this week.

Tecnoglass expects its new soft coat glass factory, which starts production this week, will help open markets to which access has failed, providing growth in their sales.

In 2015 the company from Barranquilla could reach sales in excess of 800 billion pesos, and the goal is to sell 1,100 billion pesos in 2016.

The plant represents an investment of $ 50 million and is located in the industrial citadel that Tecnoglass has built in Barranquilla. It occupies an area of 2,000 square meters and is kept as sterile as an operating room.

At the center of the whole process is a german machine known as the  Bonarden, in honor of its. From the outside it resembles a huge metal box, 220 meters long, filled with buttons and 64 portholes where you can see the high-tech chemical processes that take place inside.

Within the machine there exist a series of conditions like vacuum chambers and reduced gravity created by the gas emission, so that metals such as silver, zinc and titanium may adhere to the glass.

“The technology is similar to what used to separate electrons from uranium in the production of atomic fuel, but what we do is separate electrons from silver to help adhere them to the glass”,explains Tecnoglass vice president, Carlos Amin Daes.

As the process begins, the glass is quite normal, but at the end it becomes a material with which windows that are capable of maintaining the temperature while letting through visible light, are made. In other words, in hot climates they block the heat from the sun, saving on air conditioning expenses, and in colder climates the windows trap the heat, thus lowering heat expenses.

These procedures are computer controlled in their entirety.

The temperature in the compartment where the machine is housed is as cold as a refrigerator, A strong contrast to the heat normally felt in Barranquilla.

Amin recalls that by the 60s and 70s in the United States and other developed countries the heat in buildings was controlled putting reflective layers on glass, which is why you see all the huge buildings in New York and Chicago that look like giant mirrors. The disadvantage to this solution is that most of the light was reflected along with the heat and a lot of artificial lighting is required, along with higher energy bill. Instead the ‘soft coat’ is transparent and allows moderate light reflection to varying degrees, from 10º to 60º and gives bluish, greenish or a tanned color to the surface of the glass.

Six physicists worked on the development of Tecnoglass’ plant, which shows the high level of thought going into the project. In fact, according to Amin, in America there are only two similar factories in EE. UU. and Brazil. “As they say, we are taking a step further, because neither Mexico nor Chile or Argentina have anything similar,” he adds.

Guaranteed Market

Today, Tecnoglass today requires a million square meters of low-emission glass, about a third of its sales, that are purchased from a U.S. supplier. The plant that was opened has an 8 million square meter capacity, which gives the business group a possibility for  large growth.

According to Tecnoglass president, Christian Daes, new markets in Europe, Asia, USA and Canada, where the use of soft coat glass in buildings is mandatory are now within reach, as well as Mexico, which is already beginning to introduce similar legislation. There is also hope that this initiative will spread to Latin America and Colombia.

“For example, in the past I could not sell glass in Texas or Canada, but now I have an advantage because my soft coat competitors there do not  insulate or produce laminates, like we can. With the new factory, I assure you that we will conquer the market and we will show growth in that sector and many others”, notes Christian Daes.

THE COMPANY WILL ALSO PRODUCE CURVED GLASS

The president of the Tecnoglass conglomerate, which is made ​​up of diferent firms:  Tecnoglass (dedicated to glass), ESwindows (windows) and Alutions (aluminum profiles), Christian Daes said that contacts have already been made in Europe to sell their ‘soft coat’ products and has even got an order for three million Canadian dollars, that would not have been possible without the plant they opened in Barranquilla.

In Asia, Daes expects to sell glass sheets for others to process.

“We have not yet gone to offer, although we have connections, because we don’t like to sell what we don’t have”, notes the businessman, who claims that their product exceeds quality standards of products that come from the United States.

Additionally, the firm will produce curved glass, that they now make by hand and of lower quality, a type quite sought after by architects and is only provided by two or three factories in the world

From: Portafolio

Tecnoglass showed the highest growth in profits with a variation of 368.7%

Bogotá. So far, the greatest growth in earnings was Tecnoglass, showing an increase of 368.7% to record a figure in June of $ 8.281 million, followed Isagen with a rise of 41% and success that rose 19.6%. However, the largest amount recordedwas Ecopetrol with $ 1.6 trillion; followed by Bancolombia, with $ 694,982,000 and EPM with $ 326,010 million.

Cecilia López Montaño, former director of National Planning, said that “although there are still doubts as to whether or not sell ISAGEN, the energy sector is still profitable. I am in favor of keeping ISAGEN, and to some extent increase the debt quota, but to make decisions a thorough analysis is necessary.

“Moreover, in the second quarter of 2015, ISA showed an increase in net profit of 14.4% compared to the same period of the previous year. These results, according to the company, are explained by higher revenues on electricity transportation, road concessions and telecommunications, lower interest expenses in Chile and the effect of converting the financial information.

Luis Francisco Cuestas, a professor at Politécnico Grancolombiano University, said that when the resulting indexes of consumer confidence are analyzed, it shows that Colombians still think that the country is not in serious trouble.

“There is eagerness to buy products, but the economy could change with such a high dollar to peso exchange rate. For some people it is a moment to stop purchasing things. Then the heavy borrowing for home appliances implies that power generation remains a profitable business, “said Cuestas.

Another company that posted positive numbers was Bancolombia. In the second quarter it had an increase in net profit of 11.8% to $ 694.982 million compared with the same period last year. In addition, net interest income increased 18.6% from what was posted last year.

The results of Pacific Exploration and Production Corporation a Canadian oil company, involved a net loss of US $ 226.37 million, which according to the company “are reflected in the significant impact of the reduction in the price of crude oil. Other non-cash items affecting earnings include the depletion, depreciation and amortization of expenses, risk management and unrealized losses on currency exchange “.

The next meetings

Next September 4th Ecopetrol will hold a special assembly to officially appoint the new chairman of the board which will be headed by Luis Fernando Ramirez.

The Superfinanciera reported that Banco de Occidente, also convened its shareholders to an ordinary meeting on September 17.

Source: La República

The Tecnoglass – ESWindows Foundation

The Tecnoglass – ESWindows Foundation was born on July 18th, 2005 due to Tecnoglass and Energia Solar S.A.’s shareholders’ interest in collaborating with the management of social development projects and programs. Their main objective is to improve the quality of life for employees and their families, as well as the most vulnerable members of their communities.

Tecnoglass Gains U.S. Base through Acquisition of Glasswall Assets

The United States currently accounts for more than half of Colombia-based glass company Tecnoglass’ revenue, so it only made sense for it to establish a manufacturing base in the country—something it had lacked until now.
Tecnoglass, headquartered in Barranquilla, Colombia, acquired the assets of Miami-based impact door and window manufacturer Glasswall, including a 160,000 square-foot manufacturing and office facility in Miami, manufacturing and assembly equipment and Miami-Dade Notice of Acceptance (NOA) for products manufactured and sold by Glasswall.
“The acquisition is very important strategically for various reasons,” Tecnoglass CEO Jose M. Daes told USGNN.com™. “It gives us local manufacturing capabilities, [and] speeds up the processes of maintenance and replacement pieces, which translates into better service and client satisfaction.”
“We are committed to the U.S. market, which is today 60 percent of our sales, therefore we are making the moves to grow but in orderly fashion.” Daes adds that the company will now have a distribution center for residential windows, a sector in which he says it was lacking.
According to the company, total consideration for the transaction consisted of $4 million in Tecnoglass stock and a 15-year, $5-million term loan that Tecnoglass secured to acquire the facilities.
Glasswall was founded in 2002 by real estate developer Ugo Colombo, who previously founded CMC Group in 1986. CMC Group is a real estate development company focused on commercial, residential and retail properties and has developed more than 10 million square feet of commercial and luxury residential real estate, according to a release.
Tecnoglass currently plans to supply impact resistant doors and windows for four CMC Group projects over the next three years. Daes says Tecnoglass has Colombo’s “firm commitment” on the projects and anticipates entering an initial agreement with CMC Group by mid-2015.
Tecnoglass will continue to manufacturer at its 2.3-million square-foot facility in Colombia, though its newfound ability to “perform select manufacturing and light assembly in the U.S.,” Daes says, “will enhance client service and create certain cost efficiencies.”

Read on:
Yahoo Finances
January 13, 2015 4:05 PM

Tecnoglass grew 56% in the first semester

The report for the second quarter was $ 103 billion, which consolidates sales of 182,776 million.

Tecnoglass a company headquartered in Barranquilla and listed on the New York Stock Exchange, reported sales of more than 103,000 million in the second quarter, which consolidates a turnover of 182.776 million for the entire first half of 2015. This figure represents an increase of 56.6% over the first six months of 2014.

International sales of this firm, dedicated to the transformation of architectural glass and aluminum profiling for high quality construction in the residential and industrial sectors, and exports to the United States, Central and South America, had a share of 41%, which means a big growth as in the first half of last year sales represented only 29% of the total.

Tecnoglass management highlighted positive factors such as the commissioning of a new extrusion line with capacity of 450 tons per month, profile painting and a cutting edge glass laminating plant. This led to a 700 employee increase in their workforce.

Besides, they show great optimism for things to come in 2016 as from November and December on they will start to new lines that will significantly increase their production capacity.

Source: Portafolio

Tecnoglass sales totaled (COP) $ 182 billion in the first semester

The company announced the commissioning of a new ‘soft coat’ glass plant.

The sales recorded by Tecnoglass SA during the first half of this year totaled (COP) $ 182,776,000,000, representing an increase of 56.6% compared to the same period last year, when they reached (COP) $ 116,698,000,000.

In the first six months of the year, international sales for the company, headquartered in Barranquilla, that has a presence in the markets of different countries in North, Central and South America, amounted to 41% of total sales and totaled $ 74.938 million, an increase of 122.3% compared to sales of $ 33,713 million reported in the first half of 2014, representing a 29% of total sales.

The utilities from the company dedicated to the production of architectural glass and aluminum profiling for the construction of residential and commercial buildings, in the first semester recorded an increase by 98.8% by surpassing from $ 23,623,000 in 2014 to $ 46.969 million this year.

Christian Daes, CEO, said: “It is a very important moment for Tecnoglass. We remain on track to report record results for 2015 and 2016, and we are taking steps to raise our profile in the industry, increase productivity and expand our operations”.

He noted that during the second quarter into operations began on a new extrusion line with a 450 tons per month capacity, a profile painting line and the latest in glass laminating technology.

The projection for the end of the year is to begin operating two more production lines, with which significantly increase the capacity of lamited insulating glass.

New ‘Soft Coat’ Glass Plant (low emissivity)

Daes announced that a new plant for the production of  ‘Soft Coat’ glass (Low-E) will soon enter production at its plant in Barranquilla with an investment of USD$43 million. This cutting edge German technology will allow the company to reduce the cost of waste generated by the limitations of the standard sizes in the market for this type of glass.

The Soft Coat Low-E glass has properties that only allow the passage of light, retaining the exterior and interior glass temperatures, resulting in an increased level of efficiency in air conditioning systems in buildings.

The company estimates that the new plant will generate an estimated saving by waste between USD $6 million and $ 8 million per year and it allows the possibility of new sales of over USD $200 million annually.

At launch, the plant will run at 15% of its capacity of more than 7 million square meters per year, to meet the current demand for window frames with Soft Coat and the remaining 85% of capacity, will be addressed in the next two to three years.

Source: El Heraldo