16:19 | 13/10/2015 Investment
Vietnam’s Viglacera Corporation has started the first low-e glass project in Vietnam to promote energy-saving materials.
Viglacera’s new project will produce 2.3 to 3.3 million square metres of its innovative low-e glass
The total investment cost of Viglacera’s low-e glass assembly facility is $22.3 million, with its core components using innovative technology from Von Ardenne GmbH, a erman corporation with expertise on energy-saving glass solutions.
The assembly is scheduled to finish in October 2016, with the estimated capacity of 2.3 to 3.3 million square metres per year. Moreover, to accommodate different decorative needs, the new low-e glass will have multiple colour options.
As the project partner, Von Ardenne GmbH will also transfer its equipment and skills on energy-saving glass production to Viglacera’s Binh Duong factory, operated by a subsidiary named Viglacera Floating
Glass Company (VIFG).
According to VIFG managing director Nguyen Minh Khoa, Von Ardenne GmbH is among the few global corporations with profound knowledge on low-e glass production, making the German firm the obvious choice as Viglacera’s partner after a long selection process. Apart from Von Ardenne GmbH, Viglacera has signed a $15-million credit contract with the Vietnam Development Bank to finance the project.
Furthermore, the firm partnered up with Sado Group and Eurowindow, the two leading after-glass companies in Vietnam, to ensure its low-e glass products have a large customer base right after the 2016 launch. Also on this occasion,
VIFG has been awarded the High-Technology Project Certificate by the Ministry of Science and Technology. Nguyen Quang Cung, deputy head of the Vietnamese Association of Construction Materials, noted that Vietnam was in great need of energysaving materials like Viglacera’s upcoming low-e glass, especially after the real estate industry starts showing signs of recovery. This energy-saving glass segment is still dependent on imported materials, thus Viglacera’s initiative will fill in
a large gap.
Within the past three years, VIFG’s floating glass factory has operated at maximum capacity to meet the growing demand from both Vietnam and overseas. With the upcoming low-e glass production slated
for 2016, Khoa hoped that the firm would increase its profitability by 70 per cent and manufacturing value by 5 per cent in the next few years. In 2014, the export quota of VIFG increased by 32 percent while the firm accounted for 23 per cent of the domestic floating glass market. The company’s annual revenue reached $44.6 million, and VIFG also received the World Quality Commitment Award by Business Initiative Directions for the second time, showing the firm’s ongoing commitment to product quality and innovation./.
Source: Vietnam Investment Review