Xinyi Glass Begins Flat Glass Production; Maintains Auto Glass as Base

In a recent article in China Knowledge, it was reported that Xinyi Glass has begun producing flat glass in addition to its auto glass business.

The article goes on to say Xinyi Glass experienced a rapid growth last year, posting a profit increase of nearly 50 percent from fiscal year (FY) 2005 to FY 2006, due to an increase in demand for vehicle glass in China. Chinese sales reportedly accounted for 46 percent of Xinyi's sales last year, with a reported 46 percent of sales coming from Europe and North America.

Despite the expansion in to the flat glass industry, automotive glass is still expected to account for over 50 percent of the company's sales, said chairperson Gerry Tung.