Report: Fuyao now profitable, sees nearly $319M in revenue


Fuyao Glass America has turned around its Moraine plant and is now profitable, the company says in its 2017 annual report.

In 2017, Fuyao Glass America Inc. (including its wholly-owned subsidiaries) recorded an operating revenue of $318,996,700 and a net profit of $754,500, “achieving a turnaround from loss to profit,” the company said in its annual report, recently released in English.

Fuyao, which has about 2,000 employees in Moraine, operates the world’s largest auto glass production site off Stroop Road and Ohio 741.

RELATEDOSHA nears end of investigation into Fuyao worker’s death 

In its 2016 annual report, Fuyao said its Moraine operation lost $41 million. A team of executives at the plant was replaced in November 2016. 

The company invested about $114 million in 2017 into the site and a companion glass supply plant in Mount Zion, Ill., and the accumulated actual investments of the company amounted to $768 million total as of Dec. 31, 2017, the manufacturer said.

The investments were mainly funded by “proceeds from fund raising and borrowings of the company,” Fuyao said.

RELATEDDayton region sees strong manufacturing growth

“Currently, the designed capacity of each of Fuyao Glass America Inc. and Fuyao Illinois Inc. has been fulfilled,” Fuyao also said in its report.

“The company plans to complete the construction of production facilities with an annual capacity of 22 million square meters of automotive safety glass (excluding encapsulation facilities with an annual capacity of 1.08 million square meters) in Moraine … and construct the production line for high quality automobile float glass in Mt. Zion, Ill.,” the company also said in the report.

Chinese-owned Fuyao bought a former General Motors Assembly plant in Moraine for $15 million in May 2014 and began restructuring the property there almost immediately.

Fuyao Glass Industry Group, the overall global parent company, saw revenue of 18.7 billion Reminbi (nearly $3 billion), a 12.6 percent rise compared to 2016, while also realizing profit before tax of nearly 3.7 billion RMB (about $588 million), a decrease of 6.1 percent.



Reader Comments


Next Up in Business

City buys riverfront land for new ‘entertainment district’
City buys riverfront land for new ‘entertainment district’

Another piece in a long-planned “entertainment district” along the Great Miami River appears to have fallen in place. Property records are showing that the city of West Carrollton has bought riverfront property along Marina Drive for the potential district. The city picked up about a half-acre of former auto dealership property at 5649...
Tech firm wins $100K to work on AFRL data
Tech firm wins $100K to work on AFRL data

A Miamisburg technology firm, Ignyte Assurance Platform —which last summer changed its name from MAFAZO LLC — has received Ohio Third Frontier funding to work with the Air Force Research Laboratory (AFRL) , based at Wright-Patterson Air Force Base. The company was awarded $100,000 to develop and integrate cybersecurity technology from the...
Tech firm to move into renovated historic downtown  building
Tech firm to move into renovated historic downtown  building

A start-up software company has been identified as the first tenant in a new Woodard Development project. The cyber-physical software company Tangram Flex will occupy nearly 7,000 square feet of the fifth floor of the building located at 607 E Third St. beginning in April 2019. MORE: Why optimism has fled the auto industry The company is expected...
Why optimism has fled the auto industry
Why optimism has fled the auto industry

Auto dealers today are no longer optimistic about market conditions, a new survey has found. The Q4 2018 Cox Automotive Dealer Sentiment Index takes measure of how U.S. auto dealers, both franchised and independent, are feeling about the auto business and vehicle sales. The survey was taken between Oct. 24 and Nov. 6, 2018, with questions focused on...
Dayton Air Show leader inducted into national hall of fame
Dayton Air Show leader inducted into national hall of fame

Dayton Air Show Executive Director Terry Grevious has been inducted into the National Air Show Hall of Fame. Grevious was inducted into the hall of fame over the weekend at the International Council of Air Shows Annual Conference in Las Vegas. He has spent more than 40 years in the air show industry, managing the Flint Bishop Air Show, Muskegon Air...
More Stories