Changes in Metroglass’ competitive landscape

NZX.MPG, ASX.MPP 19 November 2018 Changes in Metroglass' competitive landscape Metro Performance Glass ("Metroglass") today provided an update on recent changes in its competitive landscape. Everywhere we operate we recognise that our industry is evolving, presenting us with both opportunities and risks. Market penetration of advanced glass products continues to increase, our largest competitor is currently undergoing a sale process and additional glass processing capacity is being added in New Zealand and Australia alongside the continuing strong levels of construction activity. New entrant into New Zealand glass processing - expected from mid-2020 We have had it confirmed to us that a large aluminium extruder is looking to enter the New Zealand glass processing market, with a new processing plant near Hamilton. This greenfield development is expected to begin early production in circa 18 months, and by way of comparison once fully up and running may be of a broadly similar scale to Metroglass' Highbrook plant. We expect the new entrant will be focussed on the windows market, and currently provides branded window and door products for c. 75 joinery fabricators around New Zealand, the majority of which Metroglass currently supplies glass to. These fabricators are independently owned and run, and will continue to choose their glass suppliers based on quality, delivery accuracy, product range, technical support and distribution capabilities. Metroglass has seven processing plants in the group, is the leading glass processor in New Zealand, and is confident in its ability to compete strongly in its markets, including 'non-windows' glass where we see further opportunities for growth. Our customers are at the centre of our strategy, and over the six months to September, we achieved the highest 'delivery-in-full-on-time' performance in over two years. Metroglass will update the market further on its competitor landscape as more details become available. FY19 interim results briefing Metroglass will release its results for the 6 months ended 30 September 2018 at 8:30am (NZDT) on Monday, 26 November 2018, followed by a briefing for investors, analysts and media at 10am that morning. For further information please contact: Andrew Paterson Investor Relations (+64) 027 403 4323 andrew.paterson@metroglass.co.nz End CA:00327025 For:MPG Type:GENERAL Time:2018-11-19 10:49:53