Glaston Corp. Announces it Will Merge Business Areas; Close New Jersey Location

Date: 24 April 2009
Source: Glaston Corporation
In addition to currently ongoing development programs Glaston Corp. has launched structural actions to increase profitability, especially in its machine business.

The current pre-processing and heat treatment business areas have been merged into one new business area Machines BA.

As part of the re-structuring Glaston will close a machine manufacturing plant in Cinnaminson, N.J. The manufacturing of U.S. tempering lines will be transferred to Finland and China.

According to a company statement, the targeted annual cost savings from the merger and improved productivity is estimated to be EUR 3.5 million globally. The merger will generate one-off costs estimated at EUR 3.7 million, recognized mainly in the second quarter of 2009. Possible redundancies will be analyzed and faced in compliance with local legislation.

The global machines business area is headed by M.Sc. (Eng.) Topi Saarenhovi, who has been appointed senior vice president, machines. Saarenhovi joined Glaston in 2007 as senior vice president, heat treatment. According to the company’s announcement, Paolo Ceni, senior vice president, pre-processing, has decided to pursue his career outside Glaston Corporation.


600450 Glaston Corp. Announces it Will Merge Business Areas; Close New Jersey Location

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