Buildings curtain walls producer and installer Far East Global Group, which aims to raise up to HK$611.6 million from a Hong Kong stock market listing, plans to more than double its production capacity to cope with growing demand. The firm is searching for a site near Shenzhen to build a HK$100 million plant with annual output capacity of two million cubic metres. Curtain walls are made of glass and extruded aluminium. They shield buildings from wind, rain, extreme heat and cold, and help conserve energy by reducing air-conditioning requirements. Far East already has plants in Shenzhen and Shanghai with a combined capacity of 1.55 million cubic metres. 'Our existing capacity can't cope with demand growth,' said chief executive Gary Kwok Yeung-kwong. 'We expect future demand growth to be substantial, as there are over 30 new super skyscrapers planned around the world, of which 15 are located on the mainland, whose construction is expected to start in the next three years.' The company is bidding for work at two of the 15 projects, he said. Far East has completed work on projects such as Asia's largest hotel, the Venetian Macao, and the world's tallest tower, the 828-metre Burj Khalifa in Dubai, which has 125,000 square metres of curtain walls. Kwok said it has about 30 per cent of the Hong Kong market. Greater China accounted for 29 per cent of revenue in last year's first nine months, North America 55 per cent and other regions 16 per cent, according to a DBS Vickers Securities research report. Far East's net profit amounted to HK$103 million in 2008, HK$25 million in 2007 and HK$18 million in 2006. Gross profit margin was 19.7 per cent in 2008, 12.6 per cent in 2007 and 7.7 per cent in 2006. DBS projected its net profit to be HK$74 million last year and HK$150 million this year. Far East will start marketing its share offer to investors today, priced at HK$1.18 to HK$1.69 each, people familiar with the deal said.