China's Fuyao Glass sees 2007 net up over 50 pct

SHANGHAI, Dec 16 (Reuters) - Fuyao Group Glass Industries Co (600660.SS), China's biggest automotive glass maker, forecast on Sunday that net profit would rise over 50 percent this year.

The company cited rising sales, the full coming onto line of new production facilities, and its development of technology making production more efficient.

Last year, the company made a net profit of 607.22 million yuan ($82.4 million). In the first nine months of 2007, profit climbed 45 percent from a year earlier to 657.18 million yuan.

Listed Chinese companies are required to make preliminary statements if they expect to report profit swings of over 50 percent. (Editing by Erica Billingham)