GLASTON CORPORATION Stock Exchange Release 3 September 2009 at 13.00
Glaston's glass processing subsidiary initiates employee co-operation
On 8 September 2009, the Glaston Corporation subsidiary Tamglass Glass
Processing Ltd will initiate statutory employer-employee negotiations under the
act on Co-determination within Undertakings (YT negotiations) on stopping its
solar energy glass manufacturing operations as the current customer hasn't
placed any new orders.
The glass processing plant in Akaa is operated on behalf of a customer. The
solar energy glass operations currently employ less than 20 people. Details of
the impact of the plan on personnel will be announced when negotiations with
personnel representatives have been completed.
The plan to stop production at Akaa does not affect Glaston Corporation's
manufacturing and product development of products aimed at the manufacture of
solar energy glass.
For further information, please contact:
Timo Rautarinta, Managing Director,
Tamglass Glass Processing, Phone +358 10 500 510
IR and Corporate Communications
Tel. +358 (0)40 7453 737
Glaston Corporation is a growing, international glass technology company.
Glaston is the global market leader in glass processing machines, and a
comprehensive One-Stop-Partner supplier to its customers. 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, and Albat+Wirsam in glass industry software.
Glaston's share (GLA1V) is listed on the NASDAQ OMX Helsinki Mid Cap List.
Distribution: OMX, media, www.glaston.net