Columbia-based glass fabricator Tecnoglass Inc. recorded a revenue increase of 16.9 percent in the first quarter of 2016 compared to the same period last year, totaling $60.8 million in sales.
“We entered 2016 with a strong pace of activity resulting in total revenue growth of 28.3 percent on a constant currency basis,” says CEO José M. Daes. “We experienced strong progress across all of our key markets, especially in our Latin American regions. In the U.S., we grew our market share with revenues up 15.8 percent year-over-year, building on positive momentum in new and existing project activity throughout our U.S. markets.
According to Daes, bidding activity remained strong, and the company logged another record backlog of $385 million.
“At the end of the first quarter 2016, we successfully scaled up production at our new soft coat low-E glass manufacturing line to meet all of our internal soft coat production needs,” says COO Christian Daes, “Since our inception, vertical integration has been a very important component of our global competitive advantage. This internal sourcing of soft coat is now able to generate incremental savings which we expect to continue as we move forward in 2016.”