Glaston releases 2010 financial statements

2010 was challenging for Glaston, Finland, said President and CEO Arto Metsänen in a March 1 release. "Demand for our products remained at a low level and the company's profitability was very weak," he said. "Our operating year was marked by extensive efficiency measures to reverse the trend in profitability.

Despite the subdued market, our net sales remained at the previous year's level. Our operating result clearly improved, which shows that our adjustment and efficiency measures are working."

The most important goal for 2011 is a clear improvement in operational profitability, Metsänen said in the release. "During 2010, due to the substantial measures implemented, our organization has adjusted to the present market situation, and the foundation has been laid for profitable operations," he said. "The financing package signed at the end of February has safeguarded the company's long-term funding. Now we can focus on growing our business and serving our customers."

Read the full release below.

600450 Glaston releases 2010 financial statements
Date: 3 March 2011

See more news about:

See more from these topics:

Others also read

Glaston presents the next chapter in the glass heat treatment business at this year’s GlassBuild America by combining its technology leadership with smart connectivity.
Growth – Knowledge – New Generation is our theme for 2017.
Glaston’s employer-employee (YT) consultation on possible lay-offs and personnel reductions, which was launched in Finland on 9 August 2016, has ended.
At Glasstec, Glaston demonstrates the performance of the all-new flat tempering lines as well as the advantages of Glaston Insight.
At Glasstec 2016, Glaston’s will introduce its latest innovations to help glass processors reach an even higher level of performance.
According to Jonathan Cohen, Global Marketing Director of Trosifol® Business, GPD provides a conducive platform and atmosphere that encourages participants to think and act ‘outside the box’. This is why Trosifol® has been part of the GPD sponsorship team since the very beginning.

Add new comment