Glaston’s glass processing unit closes down its working machine and special automotive glass business

Date: 5 August 2008
Source: Glaston Corporation
As part of its recovery programme, Glaston Corporation’s subsidiary Tamglass Glass Processing is restructuring its activities.

A proposal for the ensuing co-operation negotiations has been issued today.

For productional and financial reasons, Tamglass Glass Processing will close its working machine and special automotive glass business. The company will enhance its architectural glass business, which will become a stronger priority in the future. The business facing closure currently employs approximately thirty (30) staff.

In its strategy, Glaston has designated Tamglass Glass Processing as being outside its core business, and strategic options for its future remain under review in Glaston.

Glaston Corporation

Glaston Corporation is a growing, global glass technology group. As the leading supplier of glass processing machines in the world and a One-Stop-Partner for glass processors, its product range and service network are the most extensive in the industry. Glaston’s well-known brands are Bavelloni in pre-processing machines and tools, Tamglass and Uniglass in safety glass machines, and Albat+Wirsam in software solutions.

Glaston’s own glass processing unit, Tamglass Glass Processing, is a manufacturer of high quality safety glass products, and operates in Finland.

Glaston’s share (GLA1V) is listed on the OMX Nordic Exchange Helsinki Mid Cap List.

www.glaston.net

600450 Glaston’s glass processing unit closes down its working machine and special automotive glass business glassonweb.com
Date: 5 August 2008
Source: Glaston Corporation

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