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SYP Glass receives compensation for removal

Post Time:Oct 22,2008Classify:Company NewsView:357

The plant of Shanghai Yaohua Pilkington Glass Co., Ltd. (SYP Glass), formerly located in Jiyang Road, near Shanghai World Expo, covers an area of 198,300 square meters. Now, as this area is used for commercial development, SYP Glass can totally get 1.08 billion yuan of compensation for removal.

Till October 2008, SYP Glass has received about 635 million yuan and will get another 68.5 million yuan at the end of the year. The rest will be paid in next year. At a crucial period of credit crunch, the 1.08 billion yuan of cash will undoubtedly push SYP Glass to the top in production and capital operation.

Besides, Changshu SYP Special Glass Co., Ltd., 70% owned by SYP Glass, has showed its leading rule in the ultra-white rolled glass industry, with its annual capacity of 2 million square meters. Foreign funded by Pilkington and supported by the advanced technology, SYP Glass will go further in Asia solar PV industry.

Source: GlassInChinaAuthor: shangyi

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