KYRO OYJ ABP'S TAMGLASS EXPANDS ITS OPERATIONS IN SOUTH AMERICA
KYRO OYJ ABP'S TAMGLASS EXPANDS ITS OPERATIONS IN SOUTH AMERICA Tamglass Ltd. Oy, a member of the Kyro Group, will expand its operations in South America by establishing a new company and commencing the manufacture of safety glass production lines and machinery in Brazil. The registration of the new company, Tamglass South America Ltda., has been approved by the Government and the state where the company will be located. Following the establishment of the new production plant, located in Sao Paulo, Tamglass will have machine production on three continents. "Strengthening our market position in South America is a significant part of Tamglass' global growth strategy", says Tamglass President and CEO Pentti Yliheljo. "As a large country, Brazil presents an interesting, growing market area. The demand for flat glass in Brazil has increased by some 20% annually. Local manufacturing facilitates customers' financing arrangements and reduces currency risks; furthermore, Brazil is a natural channel for reaching other Mercosur countries". Tamglass South America Ltda. will focus on manufacturing and selling flat tempering lines and bending furnaces particularly for the needs of architectural glass manufacturers in Brazil. Company will also be in charge of the installation and service of Tamglass' products in the entire Mercosur area. The Managing Director and a minority shareholder of the new company will be Mr Jean-Paul Clément, the previous owner and director of Jepac Ltda. which company has acted as Tamglass' agent for several years. Jepac has manufactured and delivered small tempering lines to over 80 customers. These lines are expected to be replaced with new technology in the near future. The new production unit will start manufacturing safety glass machines by mid-August this year, and first deliveries will be carried out at the end of the year. Tamglass designs and manufactures safety glass machinery and production lines for the architectural and automotive glass industries. Safety glass is tempered or laminated glass. Tamglass has sales offices, production plants and service units in several European and Asian countries and in North America. The company employs approximately 400 persons. During its 30-year history, Tamglass has delivered more than 1,100 safety glass production lines to over 70 countries. KYRO OYJ ABP Pentti Yliheljo President and CEO Additional information is available from Pentti Salin, Vice President, Sales at Tamglass Ltd. Oy, tel. +358 (0)40 514 4114 DISTRIBUTION Helsinki Exchanges Major media ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/07/27/20000727BIT00270/bit0001.doc http://www.bit.se/bitonline/2000/07/27/20000727BIT00270/bit0002.pdf