2023-06-06 09:00:00 CEST

2023-06-06 09:00:08 CEST


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Glaston Oyj Abp - Other information disclosed according to the rules of the Exchange

Glaston redefines its organization to accelerate strategy execution and enhance customer experience


Glaston Corporation   Stock Exchange Release     6 June 2023 at 10:00 EET

Glaston Corporation announces a plan to reorganize its current structure to
better serve its customers in the architectural, automotive, display and solar
glass processing markets. While enhancing the customer experience, Glaston aims
to accelerate the implementation of its strategy for the period 2021−2025.
Glaston's strategic financial and non-financial targets are not changed. The new
organization is planned to come into effect on 1 October 2023.

In the new structure, Glaston plans to have two Business Areas (BA) that are
formed according to its customers' end-use segments: Architecture and Mobility,
Display & Solar.

-          The Architecture BA consists of current Heat Treatment Flat
Laminating and Flat Tempering technologies and Insulating Glass technologies as
three Business Lines

-          The Mobility, Display & Solar BA consists of the current Automotive &
Display pre-processing technologies and Heat Treatment technologies for the
automotive, display and solar glass markets as two Business Lines

The production of Glaston technologies continues in the current locations:
Tampere in Finland, Neuhausen in Germany, Bützberg in Switzerland and Tianjin in
China.

In addition, new global Business functions Automation & Innovation, and Sourcing
& Supply Chain Management (SCM) are planned to be created. Sales and Services
will continue as global functions working together with the Business Areas.

The new structure will add focus and resources in accelerating lifecycle revenue
growth and dedication in Services offering development within the Business
Areas.

The new Business functions Automation & Innovation and Sourcing & Supply Chain
Management (SCM) focus on improving scalability and efficiency of Glaston's
business processes as well as speeding up time-to-market of development
projects.

The ongoing execution of the strategic Must-wins continues, with more focus on
the Group-wide Cornerstone initiatives contributing to Glaston-wide operational
excellence.

The planned structural changes are based on Glaston's strategic growth plan and
are not expected to include headcount reductions. The reorganization is a tool
to tap into the efficiency potential that is expected to accelerate
profitability improvement towards the 10% comparable EBITA margin target by
2025.

Changes in the Executive Management Group

In connection with the planned organizational changes, the following
appointments to the Executive Management Group have been made:

Miika Äppelqvist, currently SVP Heat Treatment Technologies, is appointed SVP
Architecture. Miika Äppelqvist will relocate to Neuhausen, Germany from Finland.

Robert Prange, currently SVP Automotive & Display Technologies, is appointed SVP
Automation & SCM leading the new Business functions Automation & Innovation and
Sourcing & Supply Chain Management.

The recruitment of the SVP for the BA Mobility, Display & Solar is currently
ongoing.

Glaston and Dietmar Walz, currently SVP Insulating Glass Technologies, have
together agreed that Mr Walz will leave the Group to seek new opportunities
outside Glaston as of 1 October 2023.

All appointments are effective as of 1 October 2023. As of the same date,
Glaston's Executive Management Group will constitute of:

Anders Dahlblom, President & CEO
Sasu Koivumäki, Chief Sales Officer, Deputy to CEO
Miika Äppelqvist, SVP Architecture
N.N., SVP Mobility, Display & Solar (ongoing recruitment)
Robert Prange, SVP Automation & SCM

Artturi Mäki, SVP Services
Päivi Lindqvist, Chief Financial Officer
Kaisa Latva, General Counsel

Riikka Laitasalo, SVP People and Culture (starting 1 August 2023)

“We have made good progress on our journey toward reaching the 2025 strategic
targets. With these changes in our organization, we will accelerate the strategy
implementation by adding focus to areas where we expect to reach additional
efficiencies in operational excellence. Also, an important aspect is enhancing
customer experience. Supported by our new ways of working we will serve
customers in architecture, mobility, solar and display glass processing as a
unified Glaston. Innovating together with customers continues and moving forward
we expect to speed up the time-to-market of innovations. I'm confident that we
will be an even stronger team for the second half of our 2021−2025 strategy
journey,” says Glaston's President and CEO Anders Dahlblom.

The Business Areas including the respective Services business will form the
company's reporting segments. Glaston's financial reporting will be adjusted to
reflect the new organizational structure as of the fourth quarter of 2023.
Comparable financial figures will be disclosed prior to the publication of the
full-year 2023 financial report.

For further information:
Anders Dahlblom, President & CEO, tel.+358 1050050
Päivi Lindqvist, CFO, tel. +358 1050050

Glaston Corporation
Pia Posio, VP Communications, Marketing and IR, Tel. +358 10 500 5076

Glaston in brief

Glaston is the glass processing industry's innovative technology leader
supplying equipment, services and solutions to the architectural, automotive,
solar and display industries. The company also supports the development of new
technologies integrating intelligence to glass.

Glaston is committed to providing its clients with both the best know-how and
the latest technologies in glass processing, with the purpose of building a
better tomorrow through safer, smarter, and more energy efficient glass
solutions. Glaston operates globally with manufacturing, services and sales
offices in nine countries and its shares (GLA1V) are listed on Nasdaq Helsinki
Ltd.

Distribution:NASDAQ Helsinki Ltd, key media, www.glaston.net