Therefore Glaston will discontinue the operations of its Swiss branch and subsidiary, Cattin Machines, during this fall.
The expenses of shutting down the operations will be 0.4 million euros, filed in this year's third quarter. According to current estimates, the annual savings will be some 0.5 million euros as of 2008.
Cattin's operations, acquired by Glaston in 1997, have mainly been product development related since 2002. The unit's after sales operations will continue in Glaston France.
A total of 14 people work for Cattin. Of them, seven people have been offered employment with Glaston's other units. Therefore the personnel reduction will be a minimum of seven employees.