Glaston Oyj Abp - Corporate Action

Co-operation negotiations concerning Glaston's glass processing unit ended

GLASTON CORPORATION Stock Exchange Release 10 September 2008 at 10:45
a.m.
Co-operation negotiations concerning Glaston's glass processing unit
ended

As a part of its recovery programme, Glaston Corporation's locally
operating glass processing unit Tamglass Glass Processing began, on
30 July 2008, co-operation negotiations which have now ended.

The glass processing unit will close its working machine and special
automotive glass business and enhance its building glass business.

At the turn of the year, the operations at the Pihtiputaa unit will
end and fixed employment contracts for 17 employees will expire. As
the primary adjustment measure in the closing working machine and
special automotive glass business, ten employees will be laid off for
a period of three months during the winter of 2008-2009. Furthermore,
in the effort of redirecting operations, ten employees will be
retrained for tasks in the Akaa factory. At this point, the company
will not impose any redundancies, but the need for downsizing will be
reassessed early in 2009.
With these measures, the glass processing unit estimates to generate
cost savings of more than EUR 500,000 as from the beginning of 2009.

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 and 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 listed on the OMX Nordic Exchange Helsinki
Mid Cap List.
www.glaston.net