Glaston Oyj Abp - Company Announcement

Glaston Corporation's employee co-operation negotiations in Finland completed

Helsinki, 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