Brief: Tecnoglass Enters Into Strategic Joint Venture Agreement With Saint-Gobain

Tecnoglass Holdings

11/01/2019 07:04

Jan 11 (Reuters) - Tecnoglass Inc  TGLS.O :
    * TECNOGLASS ENTERS INTO STRATEGIC JOINT VENTURE AGREEMENT WITH SAINT-GOBAIN
    * COMPANY'S INVESTMENT FOR MINORITY INTEREST IN VIDRIO ANDINO IS
APPROXIMATELY $45
MILLION
    * TECNOGLASS - INVESTMENT EXPECTED TO BE FUNDED WITH CASH OF APPROXIMATELY
$34
MILLION PLUS LAND CONTRIBUTED AT AN AGGREGATE VALUE OF APPROXIMATELY $11 MILLION
    * JV AGREEMENT WITH SAINT-GOBAIN THROUGH PLANNED PURCHASE OF MINORITY
OWNERSHIP
INTEREST IN VIDRIO ANDINO, A UNIT OF SAINT-GOBAIN
    * TECNOGLASS INTENDS TO FUND CASH PORTION OF TRANSACTION WITH CASH ON ITS
BALANCE
SHEET AND READILY AVAILABLE LINES OF CREDIT
    * INITIAL $45 MILLION INVESTMENT INTO JV FROM TECNOGLASS WILL BE USED TO
FUND
PORTION OF CONSTRUCTION COST FOR NEW MANUFACTURING FACILITY
    * TECNOGLASS -  INITIAL $45 MILLION INVESTMENT WILL BE USED TO FUND A
PORTION OF
CONSTRUCTION COST FOR NEW MANUFACTURING FACILITY NEAR BARRANQUILLA

Source text for Eikon:  ID:nGNX2Hv1GC 
Further company coverage:  TGLS.O 

 ((Reuters.Briefs@thomsonreuters.com;))