Tecnoglass expects sales of US $ 240 million at the end of 2015

With the investments made in recent months the company plans to increase its sales by 20% in 2016.

BOGOTA. Barranquilla company Tecnoglass expects to close 2015 with sales of more than US $ 240 million and an EBITDA of $ 65 million, as announced this morning at a press conference in Bogotá by its president Rodolfo Espinosa.

He also noted that with the investments made in recent months, like the new 40 million dollar, 20,000 square meter soft coat glass plant, the company plans to increase its sales by 20 percent in 2016.

” This plant will employ more than 700 people and generate an estimated increase in sales of 200 million over the next five years, “he said.

He reiterated also that the Colimbian Stock Exchange, BVC, has approved the double listing of the ordinary shares from  the company starting on January 6, 2016, under the ticker TGLSC. And the shares will remain listed on the Nasdaq Stock Market in the United States.

For his part, the CEO, José Manuel Daes, said in a statement that “in 2013 we took the big step of entering Nasdaq to raise capital and It has been a total success for our investors and our business group. In the last two years we have increased value by 35% in dollars and 130% in Colombian pesos considering the exchange rate. We decided to make this double listing with the Colombian Stock Exchange because we want to diversify our shareholder base and expand our exposure and access to the investment community of our country. We are a company made by Colombians for the world.

“With this new stock emission, local and foreign investors can acquire shares of Tecnoglass Inc. in both the BVC and Nasdaq, through stock brokers.

In December 2013, the company debuted in the Nasdaq stock exchange at a share price of US $ 10.18 and placed about 15% of its shares among investors in the American public. Two years later, the price is trading around US $ 13.70.

Tecnoglass is a manufacturing company dedicated to architectural glass windows for global industries in residential and commercial construction. Headquartered in Barranquilla, it has an industrial complex of more than 220 thousand square meters, vertically integrated, providing access to the Americas, the Caribbean and the Pacific. It sells its products to over 800 customers in more than 27 countries in North, Central and South America and exports approximately 60% of its production.