GLASTON CORPORATION Stock Exchange Release 10 September 2008 at 10:45 a.m. Co-operation negotiations concerning Glaston's glass processing unit ended As a part of its recovery programme, Glaston Corporation's locally operating glass processing unit Tamglass Glass Processing began, on 30 July 2008, co-operation negotiations which have now ended. The glass processing unit will close its working machine and special automotive glass business and enhance its building glass business. At the turn of the year, the operations at the Pihtiputaa unit will end and fixed employment contracts for 17 employees will expire. As the primary adjustment measure in the closing working machine and special automotive glass business, ten employees will be laid off for a period of three months during the winter of 2008-2009. Furthermore, in the effort of redirecting operations, ten employees will be retrained for tasks in the Akaa factory. At this point, the company will not impose any redundancies, but the need for downsizing will be reassessed early in 2009. With these measures, the glass processing unit estimates to generate cost savings of more than EUR 500,000 as from the beginning of 2009. For further information, please contact: Glaston Corporation, Mika Seitovirta, CEO & President Tel. +358 (0)10 500 500 Tamglass Glass Processing, Timo Rautarinta, Managing Director Tel. +358 (0)10 500 510 Submitted by: Glaston Corporation Agneta Selroos Corporate Communications and IR Manager Tel. +358 (0)10 500 6105 Glaston Corporation Glaston Corporation is a growing and 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
Co-operation negotiations concerning Glaston's glass processing unit ended
| Source: Glaston Oyj Abp