Tehran- Senior managers of Sadr Tamin Investment Company (TASSICO), the managing director, and other managers of Iran Glass Wool Company convened to review the performance of the company in the first quarter of the Iranian year to March 19, 2024.

Seyyed Mohammad-Saber Parvaresh, TASSICO deputy chief for companies’ affairs, Mohammad-Reza Rezvanianzadeh, deputy TASSICO chief for plans and projects, Mohsen Parvan, deputy TASSICO chief for finance and administration affairs, experts and specialists from Sadr Tamin Investment Company, as well as Jahangir Bagheri, chief executive of Iran Glass Wool Company and the company’s other senior managers, met on Wednesday, July 19 to evaluate performance of the company in the three months to June 21, TASSICO’s website reported.

Bagheri said at the meeting, which was held at TASSICO’s Conference Hall, that production of the company increased by 29 percent in the first quarter of this year compared to the same period a year before. It has also achieved 126 percent of its budget in the first quarter of this year.

He added that the sales jumped by 104 percent to reach more than 2,060,000m rials during March 21-June 21 compared to the same period of the last year.

The CEO noted that a 240-percent growth in net profit was registered in the spring to exceed 853,000m rials in the first quarter compared to the figures for last year’s spring while the operating profit showed a rise of 244 percent during the same period.

Iran Glass Wool Company is a public company, founded in 1964 in Tehran. The firm is the country’s first and largest producer of heat and sound insulation, producing a prefabricated moisture insulation product named Izogam in Iran. The capacity of its factory was production of one ton per day in the beginning which increased to 10 tons per day later. The company was moved to the city of Shiraz from the capital in 1978 under a development plan.

The company has two factories in Shiraz and Eshtehard with 216 employees. Its production capacity is 9,000 tons of glass wool and 5m square meters of Izogam prefabricated moisture insulation. The company’s shares are traded in Tehran Stock Exchange under the stock ticker symbol CAPSHIR.