President of Colombia, Iván Duque, Visits Tecnoglass’ Manufacturing Facilities in Barranquilla During IDB Annual Meeting

Rhea-AI Summary

Tecnoglass, Inc. (TGLS), a leading manufacturer of architectural glass, hosted Colombian President Iván Duque at its advanced facilities during the IDB Annual Meeting in Barranquilla. The visit highlighted Tecnoglass's growth, particularly in the U.S. market, and its contributions to local communities, especially during the pandemic. The company has invested approximately $200 million since 2015 in advanced technologies, enhancing energy efficiency and reducing waste. Management expressed optimism about continued economic recovery and overseas expansion opportunities, underlining a strong commitment to sustainability.

Positive

• Invested approximately $200 million since 2015 to enhance technology and efficiency.
• Demonstrated the only low-emissivity glass plant in Colombia and a fully automated glass facility in Latin America.
• Highlighted role as a major employer and contributor to local communities during the pandemic.

Negative

• None.

The Chief Executive toured two of the world’s most technologically advanced architectural glass transformation facilities; a low emissivity glass plant for enhanced energy efficiency, and a fully automated tempered and laminated glass manufacturing plant at Tecnoglass main headquarters

BARRANQUILLA, Colombia, March 19, 2021 (GLOBE NEWSWIRE) -- Tecnoglass, Inc. (NASDAQ: TGLS) (“Tecnoglass” or the “Company”), a leading manufacturer of architectural glass, windows, and associated aluminum products serving the global residential and commercial end markets, hosted the President of Colombia, Iván Duque Márquez, at the Company’s manufacturing facilities during the Inter-American Development Bank (IDB) Annual Meeting held in Barranquilla, Colombia. The President was accompanied by the Chief Operating Officer of Tecnoglass, Christian Daes, the Attorney General of the Republic Margarita Cabello, Comptroller General of the Republic Carlos Felipe Córdoba, Minister of Information and Communication Technologies Karen Abudinen, Minister of Industry, Trade and Tourism José Manuel Restrepo, Minister of Justice Wilson Ruiz, Presidential Advisor for the Regions Ana Maria Palau, Governor of Atlantico Elsa Noguera, and IDB Representatives Ignacio Corlazzoli and Tomas Bermudez.

President of Colombia, Iván Duque stated, “Tecnoglass is an example of excellence which has been shown in the way it has been able to penetrate a very strict and high-quality US architectural glass market. We are proud and encouraged by its growth trajectory and by how it has become a standard for a Company that manufactures high quality, high value-added products and that has become an international leader in the industry. We are also proud about its efforts to help its employees and surrounding communities during a very difficult period.”

"We want to take advantage of this IDB assembly to help grow foreign investment into Colombia; our country is in an advantageous location to create products to export into many different markets; and we have some of the best labor force in the region.”

Tecnoglass has made capital expenditures of approximately $200 million since 2015 to meet its accelerated growth as well as to address changing industry demands in terms of innovation, technology, and efficiency. President Duque, as well as the group of Colombian senior public officials and IDB executives, witnessed the latest state-of-the-art technology in glass transformation including the soft coat plant to manufacture low-emissivity, energy-efficient glass, the only such plant in Colombia and the second one in South America; and a fully automated glass tempering and laminating plant, the only one of its kind in Latin America. This new technology has not only improved efficiency, but also contributes to the company´s ESG efforts to reduce material waste and energy consumption, in line with the Company’s Mission and with global sustainability trends.

The President highlighted the Company’s evolution into a highly technological operation with value-added components that have allowed it to penetrate the U.S market, becoming one of the largest companies in the industry. He also highlighted the Company´s leading role in seeking a sustainable and socially responsible operation, consistently investing in energy efficiency through its products and its own operation. Additionally, Mr. Duque emphasized the Company’s role in supporting regional communities by becoming one of the largest employers in the region and by providing medical and food supplies during the pandemic while keeping its labor force employed during this challenging time.

Christian Daes, Chief Operating Officer of Tecnoglass commented, “We take great pride in this visit from President Duque, senior government officials and IDB executives. With this encounter, we reaffirm our commitment to Barranquilla and Colombia to contribute to the ongoing economic recovery and to continue prioritizing sustainability by making our ESG efforts a priority, and part of our Mission.” Barranquilla has increasingly been positioned as a key destination for investors due to its advances and evolution in economic, industrial, and cultural matters, and quality of workforce. “We have invested close to US$50 million in the last two years to modernize our plant, automating processes to manufacture glass and aluminum, while increasing the productivity of our employees," said Christian Daes. “2021 is turning out to be a record year for Tecnoglass from many points of view and financial indicators. Without a doubt, it is part of our mission to transfer that economic success into well-being, development and prosperity for the region and the country.”

Santiago Giraldo, Chief Financial Officer of Tecnoglass added, “The President’s visit accompanied by the IBD annual assembly in Barranquilla evidences the confidence in the region and the country. We will take this opportunity to solidify relationships with the IBD Executives and our export and trade agencies to explore the penetration of new markets and to seek the continued overseas growth of the Company.”

As head of the Colombian Delegation in the forum of the IDB Annual Meeting, President Ivan Duque connects Barranquilla to 48 member countries, entrepreneurs and leaders that participate in this summit, opening a window of opportunities to the world. "We are excited for everything that is happening in the context of this important annual meeting, which makes us visible as a thriving and hard-working city that has the best workforce," concluded Daes.

About Tecnoglass

Tecnoglass Inc. is a leading producer of architectural glass, windows, and associated aluminum products serving the multi-family, single-family and commercial end markets. Tecnoglass is the second largest glass fabricator serving the U.S. and the #1 architectural glass transformation company in Latin America. Located in Barranquilla, Colombia, the Company’s 2.7 million square foot, vertically-integrated and state-of-the-art manufacturing complex provides efficient access to over 1,000 global customers, with the U.S. accounting for more than 90% of revenues. Tecnoglass' tailored, high-end products are found on some of the world's most distinctive properties, including One Thousand Museum (Miami), Paramount (Miami), Salesforce Tower (San Francisco), Via 57 West (NY), Hub50House (Boston), Aeropuerto Internacional El Dorado (Bogotá), One Plaza (Medellín), Pabellon de Cristal (Barranquilla). For more information, please visit www.tecnoglass.com.

Press Contact

Cristina Posada Dieppa
Communications Director
Cristina.posada@tecnoglass.com

FAQ

What recent event involved Tecnoglass and President Iván Duque?

President Iván Duque visited Tecnoglass's facilities during the IDB Annual Meeting, emphasizing the company's growth and contributions.

What investments has Tecnoglass made since 2015?

Tecnoglass has invested approximately $200 million to modernize operations and enhance technology.

What is the significance of Tecnoglass's low-emissivity glass plant?

It is the only such plant in Colombia and the second in South America, contributing to energy efficiency.

How does Tecnoglass contribute to local communities?

The company supports local communities by being a major employer and providing assistance during the pandemic.

What are the future plans for Tecnoglass after the president's visit?

The company aims to solidify relationships with IDB executives and explore new market opportunities.