Taiwan Glass Invests NT$4.333 B. to Set Up Plant in Wuhan, China

Taipei, April 28, 2010 (CENS)--Seeing the promising business opportunities generated from Chinas' energy-saving market, Taiwan Glass Group will invest US$138 million to establish an energy-saving glass plant in Wuhan of Hubei province, China.

The proposed plant will have an annual capacity of 10 million tons of energy-saving glass, as well as being the group's first investment in central China.

Chairman P.F. Lin said his group also plans to invest in an energy-saving plant in Taiwan's Changhua Coastal Industrial Park, adding that energy-awareness is rising in China.

Taiwan Glass will build the Hubei plant on 500 to 600 acres in two phases, with the group to invest US$48 million in the first-phase construction and another US$90 million in the second.

The plant will be fully invested by the group, said Lin, adding the various red tape to be cleared means no certain schedule can be set for the construction.

Taiwan Glass's total annual sales amounted to US$8.5 billion, US$4.5 billion of which from China and the remaining from Taiwan.

Lin stressed his group has never stopped investment in Taiwan despite the production expansion in China.