GLASTON CORPORATION STOCK EXCHANGE RELEASE 19 June
2007 at 3.30 p.m.
GLASTON CENTRALIZES ITS SAFETY GLASS MACHINE R&D
Glaston is in the process of centralizing its Heat Treatment business
area's R&D i.e. safety glass machine product development activities
to its Finnish headquarters. Therefore Glaston will discontinue the
operations of its Swiss branch and subsidiary, Cattin Machines,
during this fall.
The expenses of shutting down the operations will be 0.4 million
euros, filed in this year's third quarter. According to current
estimates, the annual savings will be some 0.5 million euros as of
2008.
Cattin's operations, acquired by Glaston in 1997, have mainly been
product development related since 2002. The unit's after sales
operations will continue in Glaston France.
A total of 14 people work for Cattin. Of them, seven people have been
offered employment with Glaston's other units. Therefore the
personnel reduction will be a minimum of seven employees.
Helsinki, 19 June 2007
Glaston Corporation
Emmi Berlin
IR & Communications Manager
Further information: CFO Kimmo Lautanen, kimmo.lautanen@glaston.net /
+358 40 838 6181 or
Senior Vice President, Quality and Business Development, Juha
Liettyä,
juha.liettya@tamglass.com / +358 10 500 6310.
Glaston Corporation
Glaston Corporation (formerly Kyro) is a growing, financially solid
international glass technology company. Glaston is the global market
leader and One-Stop-Partner in glass processing machines. Its product
range and service network are the widest in the industry. Glaston's
well-known brands are Bavelloni in pre-processing machines and tools,
Tamglass and Uniglass in safety glass machines.
Glaston's own glass processing unit, Tamglass Glass Processing, is a
local Finnish supplier of high quality safety glass products.
Glaston (GLA1V) is listed on the Helsinki Stock Exchange's (OMX) Mid
Cap list.
www.glaston.net
Distribution: Helsinki Stock Exchange, main Finnish and international
media, industry press
