Glaston divests its Tools business

Glaston divests its Tools business
Photo source
www.glaston.net
Glaston has signed an agreement to divest its Tools business, specialized in manufacturing and sales of tools for glass and stone processing, to Italian Bavelloni S.p.A.

Glaston, a frontrunner in glass processing technologies and services, has signed an agreement to divest its Tools business, specialized in manufacturing and sales of tools for glass and stone processing, to Italian Bavelloni S.p.A.

The divestment is a step in accordance with Glaston’s strategy to focus on its core Heat Treatment and Emerging Technologies and related services. The sale is carried out through a share deal of Glaston Tools S.r.l in Italy.

It has also been agreed that Glaston will continue as a Tools distributor through its offices in Mexico, Brazil and Singapore in their respective territories. Earlier this year Glaston discontinued its joint venture company for Tools sales and manufacturing in China. The divested business’ net sales for 2018 is estimated to be approximately EUR 5 million. 

Glaston estimates to record items affecting comparability of EUR 1.5-2 million in 2018 relating to the divestment and expected future volume reduction of the remaining tools and pre-processing businesses. The transaction does not affect Glaston’s previously disclosed outlook regarding operating profit excl. items affecting comparability for the current year.

“Glaston’s Tools business has a strong heritage within the glass and stone industry since 1950’s. We foresee a strong future for the Tools business with a dedicated new owner with Tools as part of their core business. Machinery and services for tempering and laminating continue to be in the core of Glaston’s solutions globally” says Artturi Mäki, Senior Vice President, Glaston Services.

Glaston Tools S.r.l employs 39 people in Italy.

Sequor Capital Management has acted as advisor in the transaction in Italy.

600450 Glaston divests its Tools business glassonweb.com

Others also read

For successfully process extra Jumbo size, the Coupling Press has been upgraded with many new features to ensure high processing quality. 
This solution, together with 9.5 and 11.5 mm insert versions, completes and universalizes the range of unidirectional movement systems designed by Master.
We are ready for the very first Fair of 2019. We’ll start from United States with Glass Expo Rocky Mountain.
26th-28th March Adelio Lattuada Srl and Lattuada North America Inc. will take part as Gold Sponsor in the GPAD event, which will take place at the San Antonio Marriott Hotel in San Antonio, Texas (U.S.A.).
LandGlass assisted Superkote Glass to put the new glass tempering project into production.
“FeneVision has exceeded our expectations.” Mélanie Mercier, Laurier Glass

From industry

Via per Monastier, 4
31056 Vallio di Roncade TV
Italy

NEWS RELATED PRODUCTS

Adelio Lattuada S.r.l.
Mappi International Srl
Officina Meccanica Schiatti Angelo S.r.l.

Add new comment