Glaston's Strategy and Financial Objectives Published

Date: 15 January 2008
Source: Glaston Corporation
Glaston's Board of Directors has decided on the corporation's strategy and financial objectives. Glaston operates in growing markets, and its greatest growth potential lies in architectural glass, with an annual growth rate  estimated at 6 to 8 per cent.

The company is therefore investing  heavily in this sector, in which it already has a strong market  position and know how. Correspondingly, Glaston's One-Stop-Partner  concept is a strategic strength which differentiates Glaston from its  competitors. Profitable growth is in architectural. In appliance and  automotive focus is on margin and cash flow. Investments in Service  Solutions (after sales) increase.

In its new strategy, Glaston has decided that Tamglass Glass  Processing is not core business. Tamglass Glass Processing's focus is  on implementing its current restructuring programme. The future  strategic options for Tamglass Glass Processing are under review  within Glaston.

Construction is growing worldwide with regional variations. Asia,  Eastern Europe and the Middle East are enjoying the most rapid  growth, and Asia, particularly China, has a special priority in  Glaston's strategy.

Based on its strategy, Glaston's financial objectives cover the  period up to 2010.

These objectives are as follows:

* Growth in net sales of over 8 per cent

* Profit margin improved to at least 10 per cent (EBIT)

* A Return on Capital Employed (ROCE) of at least 20 per cent

"The financial objectives are ambitious. We have now, however, a  clear strategy to achieve them. Glaston is the leading, global player  in its industry, in growing markets. We strengthen our market  position both through organic growth and acquisitions. Strong  investment in architectural glass will provide the basis for  Glaston's profitable growth. Our geographical focus and investments  in our Service Solutions business are clear steps taken towards  achieving our objectives," says Mika Seitovirta, CEO&President.

600450 Glaston's Strategy and Financial Objectives Published glassonweb.com

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