Rioglass is to diversify its output and is setting its sights on the renewable energy sector. The company expects to launch a plant in Asturias, northern Spain at the end of 2007 which will manufacture and market precision parabolic mirrors for thermosolar energy generation, said company president José María Villanueva. The new plant, with an annual capacity of 550,000 mirror units and a workforce of 90, will commence operation on 1 December 2007, following an investment of EUR 22M. "It will be possible to equip three 50 megawatt plants a year with the output from the new factory", said Mr. Villanueva, who added that starting production of this type of glass, until now only made in Germany and the USA, has meant an additional investment of EUR 1.5M for research on how to make a durable glass of good quality. Rioglass posted an EBITDA of EUR 14.8 million for the last financial year, and turnover rose to EUR 73.2 million. For the 2007 financial year, the forecasts point to revenue of EUR 86.5 million and EBITDA of EUR 21.7 million. The company, which mainly produces and markets tempered and laminated autoglass, is present in four countries (Belgium, Brasil, Spain and France), and employs 900.
