Tecnoglass (TGLS) 8-KEntry into a Material Definitive Agreement

Filed: 27 Dec 13, 12:00am

Exhibit 21.1

List of Subsidiaries

	Name of Subsidiary	Description

1.	Alcoy Group Worldwide S.A.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of Tecnoglass.

2.	Archena Continental Corp.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of Tecnoglass.

3.	Belagua Consultants Inc.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of Tecnoglass.

4.	Hollental Investors S.A.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of ES.

5.	Isarco Investments Inc.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of ES.

6.	Kodori Holdings S.A.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of ES.

7.	Luena Commercial Corp.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of Tecnoglass.

8.	Mosela Ventures Corp.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of ES.

9.	Ordesa Valley Inc.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of Tecnoglass.

10.	Pineta Services Inc.	Asociedad anómina, organized under the laws of Panama, which is a wholly owned subsidiary of Tecnoglass Holding and is one of five direct shareholders of ES.

11.	Tecnoglass USA, Inc.	A corporation organized under the laws of the State of Florida which is a wholly owned subsidiary of Tecnoglass.

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