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2009-03-17 10:00:00 CET 2009-03-17 10:00:06 CET REGULATED INFORMATION Glaston Oyj Abp - Company AnnouncementGlaston ends employee co-operation negotiations in FinlandGLASTON CORPORATION Stock Exchange Release 17 March, 2009 at 11:00 a.m. Glaston ends employee co-operation negotiations in Finland Glaston Finland Oy's on 3 March, 2009 initiated negotiations in accordance with the Act on Co-operation within Undertakings, on adjusting the operations of its Heat Treatment business area to the prevailing market situation, have been concluded. Glaston Finland will have temporary lay-offs of its entire workforce, excluding service business, a total of 200 employees, for on average of an additional 10 weeks during 2009, and redundancies for maximum 10 employees. As a result of these negotiations and the previous employer-employee co-operation negotiations completed in December 2008 the total temporary lay-offs of Glaston Finland's workforce is estimated to 10-18 weeks, with the exception of service business personnel, and the redundancies to 25 employees. For further information, please contact: Glaston Corporation, Mika Seitovirta, CEO&President Tel. +358 (0)10 500 500 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 quoted on the Mid Cap list of the NASDAQ OMX Helsinki. www.glaston.net |
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