Glaston Oyj Abp - Company Announcement

Operational review at Glaston’s Annual General Meeting: nanotechnology project proceeding according to plan

Helsinki, Finland, 2016-04-05 13:00 CEST (GLOBE NEWSWIRE) -- Glaston
Corporation                     Stock Exchange Release               5.4.2016
at 14.00 



Operational review at Glaston’s Annual General Meeting:  nanotechnology project
proceeding according to plan 

Glaston Corporation will hold its Annual General Meeting in Helsinki today,
Tuesday 5 April 2016, at 3 p.m. President & CEO Arto Metsänen will cover in his
review the company’s financial performance in 2015, the company’s strategy for
2016–2018 and the future outlook. As part of the strategy presentation, Juha
Liettyä, Senior Vice President, Machines will tell about the California based
nanotechnology project. 


In his review, the President & CEO will repeat the outlook for 2016 published
on 11 February 2016: Glaston’s 2016 net sales are expected to be slightly below
the 2015 level and operating profit, excluding non-recurring items, to be at
the 2015 level. (In 2015 net sales were EUR 123.4 million and comparable
operating profit, excluding non-recurring items, was EUR 6.1 million). 


Glaston announced its new strategy in March 2016. The cornerstones of the
strategy are growth, technology leadership and the industry’s best customer
experience. Glaston’s expertise is strongest in flat tempering technology.
Glaston’s growth target in this segment is supported by growth in demand for
architectural glass. 

Glaston is also seeking new business opportunities in emerging glass
technologies. The smart glass market is in a strong development phase, its
growth driven by energy-saving needs and environmental awareness. 

At the end of 2015, Glaston announced its strategic investment in a California
company specialising in the development of smart glass. In the project, Glaston
is acting as the product developer, designer, manufacturer and seller of
production lines. The project is proceeding according to plan and a prototype
line is expected to be completed in autumn 2016. 

The smart glass market is still in the development stage and it is seeking a
technological breakthrough. If the technology now being developed is
commercially viable, sale of the production lines is estimated to be launched
in 2018. It is estimated that there will be an annual need for 1-4 production
lines. Glaston has the exclusive right to supply the integrated line for the
pilot phase and in the future thin glass heat treatment machines included in
these smart glass lines. These potential machine deals will be announced in
accordance with disclosure policy. 

The Annual General Meeting presentation material (in Finnish) will be available
at www.glaston.net by 3 p.m. at the latest. 

Further information:

Arto Metsänen, President & CEO, tel. +358 10 500 500
Juha Liettyä, Senior Vice President, Machines, tel. +358 500 6310



GLASTON CORPORATION
Agneta Selroos
Communications Director



Glaston Corporation
Glaston is a leading company in glass processing technologies. We provide
high-quality heat treatment machines and services for architectural, solar,
appliance and automotive applications. We are committed to our customers’
success over the entire lifecycle of our offering. Moreover, we continuously
innovate and develop technologies to enable the glass processing industry to
reach ever higher standards in quality and safety. Glaston’s shares (GLA1V) are
listed on NASDAQ Helsinki Ltd. Further information is available at
www.glaston.net 

Distribution: Nasdaq Helsinki, key media, www.glaston.net