Glaston has started negotiations on the sale of its pre-processing business in USA and Canada to the Italian company Bavelloni SpA.
In the same context, negotiations will take place on Glaston continuing as a reseller in Mexico, Brazil and Singapore.
The negotiations are expected to be completed by 31 March 2017. Net sales of pre-processing business in USA and Canada were approximately EUR 4.9 million in 2016.
Glaston acquired the Italian company Z. Bavelloni SpA, which specialised in pre-processing operations, in 2003 and the company was sold to its local management in 2015.
In connection with the sale, it was agreed that Glaston would continue to distribute and service pre-processing machines in areas agreed with the buyer.