San Pedro Garza García, Nuevo León, Mexico, June 23, 2021 (GLOBE NEWSWIRE) -- Vitro, S.A.B. de C.V. (BMV: VITROA), today announced that its Board of Directors has approved construction of a third float furnace at the company's García plant near Monterrey, Mexico.
The approximately $120 million USD investment will allow the company to meet the growing market demand in Latin America and provide greater product availability and improved logistics, enabling the company to provide a higher level of service to its customers and markets.
"Board approval of the construction of this new float line demonstrates Vitro's commitment to meeting the needs of the markets we serve," said Adrian Sada Cueva, chief executive officer, Vitro. "Vitro is continually developing new products with improved efficiency, aesthetics and value. With building construction steadily increasing in the region, these are the attributes that the industry is seeking in glass. Expanding our capacity will help meet that demand and allow us to get glass to our customers faster, using the latest production technologies."
Since Vitro acquired the flat glass business from PPG in 2016 and Pittsburgh Glass Works in 2017, the company has made significant investment in its North American operations, most notably the rebuilding of both float lines at Vitro's Carlisle, Pennsylvania plant, and the construction of a jumbo coater in Wichita Falls, Texas, a $67 million USD investment.
"While the primary purpose of this new line is to meet growing market demand in the Latin American region, the additional capacity will allow us to provide a higher level of service to our customers," said Ricardo Maiz, president of Vitro Architectural Glass. "This is especially important as we continue to release new products that are in high demand, such as our Acuity™ low-iron glass with the full range of energy efficient Solarban ® low‑e coatings."
Construction of the new furnace will begin later this year.
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Vitro, S.A.B. de C.V. (BMV: VITROA) is a leading glass manufacturer in North America and one of the world's major companies in its industry, backed by more than 100 years of experience. Founded in 1909 in Monterrey, Mexico, the Company has subsidiaries around the globe, offering quality products and reliable services to meet the needs of two businesses: flat glass and glass containers. Companies of Vitro produce, process, distribute, and market a wide range of glass articles, which are part of the daily life of thousands of people. Vitro offers solutions for multiple markets, including architectural and automotive as well as cosmetic, pharmaceutical and toiletries. The Company is also a supplier of chemical products and raw material, machinery, molds and equipment for industrial use. As a socially responsible organization, Vitro works on several initiatives aligned to its Sustainability Model, aiming to create a positive influence in the economic, social, and environmental aspects relevant to its stakeholders, in a responsible corporate management framework. For more information, visit: http://www.vitro.com
Solarban ® is a registered trademark owned by Vitro. Acuity™ is a trademark owned by Vitro.
Robert StrubleVitro Architectural Glass412email@example.com