Andina Acquisition Corporation (“Andina”) and privately-held Tecnoglass S.A. and C.I. Energia Solar S.A. E.S. Windows (sister companies under common management, collectively, “Tecnoglass”) announced the signing of a definitive agreement under which Tecnoglass will become a subsidiary of Andina.
Headquartered in Barranquilla, Colombia, Tecnoglass is a manufacturer of hi-spec architectural and industrial glass and windows, and associated aluminum products for the global residential and commercial construction industries. Tecnoglass sells to more than 300 customers in North, Central and South America, and exports approximately 43 percent of its production to foreign countries, with the United States accounting for approximately 30 percent of company revenues in 2012, according to a company release.