Tecnoglass Announces Relocation of Global Headquarters to the United States
August 17 2023 - 6:00AM
Tecnoglass,
Inc.
(NYSE:
TGLS) ("Tecnoglass" or the
"Company"), a leading manufacturer of architectural
windows, glass and associated aluminum products for the global
residential and commercial construction industries, today announced
the relocation of its global headquarters to Miami, Florida from
Barranquilla, Colombia. The relocation is effective immediately.
This strategic move is aimed to further bolster
the Company's strong market presence and continued growth in the
United States, where it sells the majority of its innovative
architectural high-end window, glass and aluminum products. Over
the past decade, Tecnoglass has experienced substantial growth in
the United States, which currently accounts for more than 95% of
its generated revenues. By moving its global headquarters to the
United States, the Company believes it will be better positioned to
serve its customers, respond swiftly to market dynamics, and
harness the favorable growth opportunities available. Additionally,
the significant portion of existing sales, marketing and corporate
functions already performed in the U.S. will be supported by this
move.
José Manuel Daes, Chief Executive Officer of
Tecnoglass, commented, "Becoming a U.S. based company is an
exciting milestone for our Company. Our successful record of
sustainable growth in the U.S. has already helped to cement
Tecnoglass as a U.S.-centric company. The decision to relocate our
global headquarters to Miami is aligned with this growth and
underscores our commitment to further strengthening our customer
relationships, streamlining administrative functions and enhancing
our operational efficiency.”
Mr. Daes continued, “We believe the relocation
of our global headquarters will also enhance our eligibility to be
included in U.S. based indexes, allow us to expand our reach with
global investors, strengthen our U.S. capital markets
relationships, and foster long-term partnerships that will fuel our
innovation and multi-pronged growth strategy."
The new global headquarter is located within one
of the Company’s existing facilities in Miami, Florida, with plans
already underway to purchase land for the buildout of a showroom
and a new executive office over the next 12 to 18 months. The
Company’s existing corporate offices in Barranquilla, Colombia will
continue to serve as a critical operational and administrative hub,
supporting the Company’s extensive, cost-efficient manufacturing
platform.
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 U.S. and the #1 architectural glass transformation company in
Latin America. Located in Barranquilla, Colombia, the Company’s 5.6
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 95% 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 or view our corporate video 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’ 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
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 and changes
in assumptions or otherwise, except as required by law.
Investor Relations:Santiago
GiraldoCFO305-503-9062investorrelations@tecnoglass.com
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