- Signs Long-term Supply Agreement with Global Vinyl Frame Manufacturer –
- Vinyl Window Product Lines Expected to Start Deliveries in November of 2023 With Orders and Backlog Already in Place, Serving Both Residential and Commercial End Markets –
- New Product Line to Go To Market Under the ES Windows Legacy Brand -
The decision to enter the vinyl window market is directly aligned with Tecnoglass' ongoing diversification strategy to expand its footprint and leverage its competitive advantages. The Company has signed a long-term supply agreement to procure vinyl frame profiles from a premier global manufacturer. In line with its vertically integrated platform, the Company will reshape the profiles into custom made specifications and will use its internally produced glass plus its newly installed vinyl assembling lines to manufacture and distribute cutting-edge vinyl windows for new and existing customers. Given its comprehensive vertically integrated manufacturing platform and its growing network of dealers and distributors, many of which already sell vinyl products, the Company expects to start production and deliveries in
The expansion into vinyl windows offers a range of benefits to Tecnoglass and its customers:
- Enhanced Product Portfolio: Tecnoglass' entry into the vinyl window market expands its product portfolio, offering customers a wider selection of solutions to meet their project needs. The Company´s current distribution base provides an immediate synergy given the significant number of current dealers and distributors that already sell both aluminum and vinyl windows.
- Expanded Addressable Market: Based on external sources1, vinyl windows are estimated to represent approximately 60% of the
$26 billion architectural window market, with aluminum windows comprising the majority of the remainder. In line with the Company´s ongoing geographical expansion, vinyl products provide another entry point given its versatility and adaptability for different regions and conditions. - Energy Efficiency: Vinyl windows are known for their efficient thermal performance, which aligns well with ongoing sustainability trends and increased demand for energy efficient products.
- Reliability and Durability: Leveraging its manufacturing expertise, Tecnoglass will look to produce its vinyl products with the same level of durability and longevity that customers have come to expect from the Company’s existing product portfolio.
- External sources include IBISWorld,
Fenestration and Glazing Industry Alliance (FGIA), and Arizton Advisory and Intelligence
About Tecnoglass
Tecnoglass Inc. is a leading producer of architectural high-end windows, glass and associated aluminum products serving the multi-family, single-family, and commercial end markets. Tecnoglass is the second largest glass fabricator serving the
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, in particular related to Tecnoglass’ entry into the vinyl window market. These statements are based on Tecnoglass’ 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’ filings with the
Investor Relations:
305-503-9062
investorrelations@tecnoglass.com
Source: Tecnoglass Inc.
2023 GlobeNewswire, Inc., source