Glaston Corporation Press Release 21 September 2022 at 10.30
Glaston Group has signed a contract for five flat tempering lines for solar panel tempering with Chinese Kibing Glass. The order is the first win for Glaston’s new tailor-made concept for the solar industry.
In Glaston’s updated strategy, the solar industry is identified as a growth-capturing customer segment. Amid rising concerns over climate change and energy security, significant growth in renewable energy is expected. In China, the solar market is booming and the new installed solar capacity was up 148% in the first quarter of 2022 compared to the corresponding period in 2021 (Source: China National Energy Administration, April 2022). Reflecting these growth numbers, the output of solar glass in China has increased thereby driving demand for solar panel glass processing equipment.
Glaston’s long-term customer, Kibing Glass is an innovative high-technology company, specializing in float glass, energy-saving building glass, low-iron ultra-white glass, photovoltaic glass, and pharmaceutical glass. Currently, Kibing Glass invests heavily to expand its photovoltaic glass production base in China and Malaysia and the number of photovoltaic glass projects has been accelerating.
Kibing Glass already operates close to 20 Glaston insulating glass lines. Glaston’s technological advantage, service capabilities and strong brand name contributed to the positive outcome when the customer was looking for a technology supplier for their growing solar business. “Kibing Glass is a highly valued customer and we are honored to support their growth initiatives in the solar business. Glaston’s tailor-made solar concept, which combines huge volumes and high-quality thin glass, is a perfect choice”, says Sasu Koivumäki, CSO at Glaston Corporation.
The CHF Solar line is designed for high volume and operates 24/7 with an automatic setup. The cycle time per glass is only 15 seconds. As the line is running continuously, the daily throughput is approximately 250 tonnes.
The order, valued at close to EUR 5 million, is booked in Glaston’s Q3/2022 order book. The CHF Solar lines will be delivered to the customer’s facility in Malaysia during the first half of 2023.
With total assets of RMB 19 billion and more than 10,000 employees, Kibing operates from six glass processing plants located throughout China and Malaysia. The company also has 26 high-quality float glass lines in production. Since 2011, the company is listed on the Shanghai Stock Exchange.
For further information, please contact:
Commercial inquiries:
Sasu Koivumäki, CSO, tel. +65 9732 1253
Pekka Nieminen, General Manager, China, tel. +00 181 5618 8740
Press inquiries:
Pia Posio, VP Communications, Marketing & IR, tel +358 10 500 5076
Glaston in brief
Glaston is the glass processing industry’s innovative technology leader supplying equipment, services and solutions to the architectural, automotive, solar and display industries. The company also supports the development of new technologies integrating intelligence into glass.
Glaston is committed to providing its clients with both the best know-how and the latest technologies in glass processing, with the purpose of building a better tomorrow through safer, smarter, and more energy-efficient glass solutions. Glaston operates globally with manufacturing, services and sales offices in 10 countries and its shares (GLA1V) are listed on NASDAQ Helsinki Ltd.