EschCollection/DigitalVision via Getty Images Investment Thesis Tecnoglass (NYSE:TGLS) is a regional market leader in the Southeast of the US (particularly in Florida) with two key differentiators: (i) a cost advantage enabled by its near-shored production base in Colombia, and evidenced by its best-in-class margins, and (ii) a vertically integrated production model, from aluminium extrusion and glass transformation, all the way to product design, distribution and installation. As a market leader in a cycli ...