GLASTON CORPORATION Stock Exchange Release 5th March 2009 1 p.m.
Co-operation negotiations concerning Glaston's glass processing unit
ended
Co-operation negotiations to bring the building glass operations
of Tamglass
Glass Processing, a subsidiary of Glaston Corporation, into
line with the
current market situation, have been concluded.
As a result, Tamglass Glass Processing will focus its
building glass production
to Tampere and production at the Lempäälä plant
will be wound up by 15th June
2009.
This will entail 35 redundancies, in
addition to which the firm's entire
personnel will be subject to
temporary lay-offs of 25 weeks during 2009, through
to the end of March 2010,
and in addition with respect to 30 staff, the lay-offs
are for the time being.
Upon the conclusion
of the negotiations, Tamglass Glass Processing has around
113 staff, 93
being employed in Tampere's building glass operation and 20 in the
town of
Akaa's solar energy operations.
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, 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 quoted on the Mid Cap list of the
NASDAQ OMX
Helsinki.
www.glaston.net
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