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
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
Corporate Communications and IR Manager
Tel. +358 (0)10 500 6105
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