Glaston divests its pre-processing business in Mexico

Glaston divests its pre-processing business in Mexico
Photo source
glaston.net
Glaston Corporation, has signed an agreement to divest its pre-processing business in Mexico, to Italian Bavelloni S.p.A.

The divested business’ net sales for January-September 2019 was approximately EUR 2 million and it has had a slightly positive EBITA impact. The business has been part of the Glaston segment’s “Other” product area. The transaction does not affect Glaston’s guidance for the current year.

With the aim to focus on one of its core technologies, Heat Treatment, Glaston divested its pre-processing business in Italy in 2015. In 2016 the pre-processing businesses in USA and Canada were divested and in 2018 the Group’s Tools business in Italy was sold and the joint venture discontinued in China. The remaining share of the pre-processing and tools businesses included in the “Other” product area will continue as is, as distribution agreements for Bavelloni’s pre-processing products and tools in Brazil and Singapore remain in force.

Glaston will continue its sales and services in Mexico through its units in Americas supported by Bavelloni Mexico regarding Heat treatment projects.

600450 Glaston divests its pre-processing business in Mexico glassonweb.com

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