Glassmaker Romag on way to float

THE company that made the solar-filtering glass for Covent Garden's Floral Hall, which stops opera patrons from overheating on a sunny evening, is coming to the stock market.

Bullet-proof glassmaker Romag is joining the Alternative Investment Market with an £8m placing of shares at 45p, which will value the company at £19m.

Chairman John Kennair, 59, was parachuted in from his City banking job to sort out the company in 1974 and stayed. Chief executive Lyn Miles, 51, joined as his personal assistant in 1982. Romag employs 150 people.

Sales in the year to September were £16.5m with profits of £950,000.

Part of the funds will finance a new production line for photovoltaic glass, which generates electricity from the light passing through it. Used by architects, this was developed over the past six years with BP's alternative energy research division.

Romag also makes glass for trains, armoured cash vans and limousines. Broker Bell Lawrie White is placing the shares. Dealings are due to start on 6 November.