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Flat Glass Industries Provides Operational Update
Monday January 21, 2008, 8:43 am

Original Announcement: Operational Update

Flat Glass Industries announced that following the placement to existing and new institutions of 3m shares at $1.50 per share in December the Company has undertaken the initiatives to strengthen its position in the glass industry, which include: exercised a $1 option to convert a loan of $750,000 into a half-share of the land and buildings occupied by the 50% subsidiary Burnbridge Glass; commenced installation of a new glass tempering line at Burnbridge Glass and transferred a used CNC glass machining centre from the company's Moorebank factory to expand productive capacity; and exchanged contracts for the purchase of a 16,000 sqm property at Dandenong in Melbourne with a purchase cost of $3.2m.

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