Tecnoglass Inc. announced its entry into the vinyl window market. This expansion more than doubles the Company's addressable market and is expected to further solidify its position as an industry leader in architectural windows and glass solutions. The decision to enter the vinyl window market is directly aligned with Tecnoglass' ongoing diversification strategy to expand its footprint and leverage its competitive advantages.

The Company has signed a long-term supply agreement to procure vinyl frame profiles from a premier global manufacturer. In line with its vertically integrated platform, the Company will reshape the profiles into custom made specifications and will use its internally produced glass plus its newly installed vinyl assembling lines to manufacture and distribute cutting-edge vinyl windows for new and existing customers. Given its comprehensive vertically integrated manufacturing platform and its growing network of dealers and distributors, many of which already sell vinyl products, the Company expects to start production and deliveries in November 2023, more than doubling its addressable market while increasingly diversifying its revenue base going forward.

The expansion into vinyl windows offers a range of benefits to Tecnoglass and its customers: Enhanced Product Portfolio: Tecnoglass' entry into the vinyl window market expands its product portfolio, offering customers a wider selection of solutions to meet their project needs. The Company's current distribution base provides an immediate synergy given the significant number of current dealers and distributors that already sell both aluminum and vinyl windows. Expanded Addressable Market: Based on external sources, vinyl windows are estimated to represent approximately 60% of the $26 billion architectural window market, with aluminum windows comprising the majority of the remainder.

In line with the Company's ongoing geographical expansion, vinyl products provide another entry point given its versatility and adaptability for different regions and conditions. Leveraging its manufacturing expertise, Tecnoglass will look to produce its vinyl products with the same level of durability and longevity that customers have come to expect from the Company's existing product portfolio.