Glaston to streamline operations in Asia and South America

Glaston concluded the sale of its pre-processing machine business in June 2015. To streamline its operations, Glaston has begun adjusting its capacity to its new structure and the current market situation.

Measures will mainly be taken in Asia and South America. 

Pre-processing units have been operationally restructured due to the sale of the pre-processing machine business. The main impact is in the Tianjin factory in China, where pre-processing machine assembly has stopped. In South America, production capacity has been adjusted to the current market situation.

These measures are expected to yield EUR 1.3 million in annual cost savings. The profitability improvement measures will affect some 45 people in total in Asia and South America. They will be implemented by the end of 2015 and the savings will take effect from the beginning of 2016 onwards. The estimated one-off costs related to the measures are EUR 1.2 million, of which EUR 0.5 million with cash flow impact. One-off costs of EUR 0.3 million has been booked in the two previous quarters. Approximately EUR 0.9 million will be booked in the final quarter of 2015.

In the future, Glaston will focus on high-technology heat treatment and service.

Further information:

Glaston Corporation

President & CEO Arto Metsänen, tel. +358 (0)10 500 500

CFO Sasu Koivumäki, tel. +358 (0)10 500 500

GLASTON CORPORATION

Agneta Selroos

Communications Director

Tel. +358 40 7453 737
Glaston Corporation

Glaston is a leading company in glass processing technologies. We provide high-quality heat treatment machines and services for architectural, solar, appliance and automotive applications. We are committed to our customers’ success over the entire lifecycle of our offering. Moreover, we continuously innovate and develop technologies to enable the glass processing industry to reach ever higher standards in quality and safety. Glaston's shares (GLA1V) are listed on the NASDAQ OMX Helsinki Ltd. in Finland. For more information, please visit: www.glaston.net

600450 Glaston to streamline operations in Asia and South America glassonweb.com
Date: 28 October 2015
Source: Glaston Corporation

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