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2010-12-16 10:40:00 CET 2010-12-16 10:40:02 CET REGULATED INFORMATION Glaston Oyj Abp - Company AnnouncementGlaston Corporation's employee co-operation negotiations in Finland completedHelsinki, Finland, 2010-12-16 10:40 CET (GLOBE NEWSWIRE) -- Glaston Corporation Stock Exchange Release 16.12.2010 at 11.40 Glaston Corporation's employee co-operation negotiations in Finland completed Glaston Corporation's statutory employer-employee negotiations under the Act of Co-Determination within Undertakings in Finland (YT negotiations) initiated on 3 December 2010, have been concluded. As a result of the negotiation process, approximately 25 employees will be laid off, the majority of them senior white-collar employees. In addition, Glaston will set up a global technology and design centre in Tianjin, China, and the possible effects on personnel in Finland will be determined during the first six months of 2011. Additionally, the temporary lay-offs will continue in 2011. As a principal rule the personnel reductions will commence immediately. Glaston has ongoing efficiency measures globally. The largest adjustment measures are focused on Italy, where negotiations regarding a reduction of approximately 40 jobs are initiated today. In addition, towards the end of the year, personnel reductions will take place in the European regional organisation, where the transition to a distributor- and agent-based operating model will lead to the termination of 25 employment contracts. For further information: CEO&President Arto Metsänen, phone +358 10 5006100. Distribution: Helsinki Stock Exchange, key media Glaston Corporation Glaston Corporation is an 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. www.glaston.net CEO&President Arto Metsänen, phone +358 10 5006100 |
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