Xinyi Glass confirms orders in H1 2009

Benefiting from World Expo Shanghai, Guangzhou Asian Games and 26th Universiade Shenzhen, Xinyi Glass has confirmed orders in the first half-year 2009, said Dong Qingshi, Executive Director and CEO. The company also plans to build the first TCO glass line in China, which is predicted to increase the company’s gross profit rate.

Affected by financial crisis, China float glass market lost 43 lines last year. However, Xinyi Glass raised the price of float glass to 1,500 yuan/ton by 5 times at the beginning of 2009 and will see more growth in this business with fewer rivals, said Dong.

The company has another two glass lines under construction, i.e., 500t/d photovoltaic glass line and ultra-white float glass line, which are expected to operate respectively in the mid-year and the latter half-year. besides, the TCO glass line will be operated in the mid-year for an annual output at 680,000 sqm.